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Robust Assessment of Preference Functions

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Abstract

A framework for assessing a single decision maker’s preference function of several variables is sketched. The preference function is assumed to be additively decomposable into onedimensional preference functions. All attributes are known prior to the given analysis. The case of probability distributions can basically be dealt with in the same way as the case of certainty. However, in the first case we explore an instability phenomenon which does not exist for sure alternatives. The approach is applied to a real world problem in environmental decision making. Preferences serve as a proxy measure for unobtainable statistical data on damage cost and frequency. We describe this application along an outline of a software system developed to cope with that problem.

Keywords

  • Utility Function
  • Preference Function
  • Strict Preference
  • Preference Elicitation
  • Hazard Class

These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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© 1993 Springer-Verlag Berlin · Heidelberg

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Kämpke, T., Radermacher, F.J. (1993). Robust Assessment of Preference Functions. In: Diewert, W.E., Spremann, K., Stehling, F. (eds) Mathematical Modelling in Economics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-78508-5_22

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  • DOI: https://doi.org/10.1007/978-3-642-78508-5_22

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-78510-8

  • Online ISBN: 978-3-642-78508-5

  • eBook Packages: Springer Book Archive