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Maut — Multiattribute Utility Theory

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Multiple Criteria Decision Analysis: State of the Art Surveys

Part of the book series: International Series in Operations Research & Management Science ((ISOR,volume 78))

Abstract

In this chapter, we provide a review of multiattribute utility theory. We begin with a brief review of single-attribute preference theory, and we explore preference representations that measure a decision maker’s strength of preference and her preferences for risky alternatives. We emphasize the distinction between these two cases, and then explore the implications for multiattribute preference models. We describe the multiattribute decision problem, and discuss the conditions that allow a multiattribute preference function to be decomposed into additive and multiplicative forms under conditions of certainty and risk. The relationships among these distinct types of multiattribute preference functions are then explored, and issues related to their assessment and applications are surveyed.

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Authors and Affiliations

  1. Department of Management Science and Information Systems, The Graduate School of Business University of Texas at Austin, Austin, TX, 78712, USA

    James S. Dyer

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  1. James S. Dyer
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© 2005 Springer Science + Business Media, Inc.

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Dyer, J.S. (2005). Maut — Multiattribute Utility Theory. In: Multiple Criteria Decision Analysis: State of the Art Surveys. International Series in Operations Research & Management Science, vol 78. Springer, New York, NY. https://doi.org/10.1007/0-387-23081-5_7

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