Multi-Attribute Utility Theory
Multi-attribute utility theory is an extension of Utility theory developed to help decision-makers assign utility values, taking into consideration the decision-maker’s preferences, to outcomes by evaluating these in terms of multiple attributes and combining these individual assignments to obtain overall utility measures. Utility theory has generally been used to develop a relationship between utility and costs incurred as a consequence of a particular decision.
KeywordsUtility Function Utility Theory Evaluation Matrix Utility Curve Linear Utility Function
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