Abstract
This paper discusses the quantification of preferences over ten major objectives of a corporation. The objectives concern personal, professional, and financial goals. The procedure used to elicit a ten-attribute von Neumann-Morgenstern utility function from a board member of Woodward-Clyde Consultants is presented. First the objectives and associated attributes are specified. Then the actual assessment is summarized. Uses of the results for examining policy are discussed.
Keywords
- Utility Function
- Utility Theory
- Consult Firm
- Desirable Level
- Retirement Plan
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.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
References
Debreu, G., “Topological Methods in Cardinal Utility Theory”, in K.J. Arrow, S. Karlin, and P. Suppes (Eds.), Mathematical Methods in the Social Sciences, 1959, Stanford University Press, Stanford, California, 1960.
Fishburn, P.C., “Independence in Utility Theory with Whole Product Sets”, Operations Research, Vol. 13, 28–45, 1965
Fishburn, P.C., Utility Theory for Decision Making, Wiley, New York, 1970
Keeney, R.L., “Multiplicative Utility Functions”, Operations Research, Vol. 22, 22–34, 1974.
Keeney, R. L., “Examining Corporate Policy Using Multiattribute Utility Analysis”, RM-75–36, I.I.A.S.A., Laxenburg, Austria, 1975.
Keeney, R.L., and H. Raiffa, Decision Analysis with Multiple Conflicting Objectives, to be published by Wiley, New York, 1976.
Keeney, R.L., and A. Sicherman, “An Interactive Computer Program for Assessing and Using Multiattribute Utility Functions”, RM-75–12, I.I.A.S.A., Laxenburg, Austria, 1975.
Raiffa, H., “Preferences for Multi-Attributed Alternatives”, RM-5868-DOT/RC, The RAND Corporation, April, 1969.
Schlaifer, R.O., Analysis of Decisions under Uncertainty, McGraw-Hill, New York, 1969.
von Neumann, J., and O. Morgenstern, Theory of Games and Economic Behavior 2nd Ed., Princeton University Press, Princeton, New Jersey, 1947.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1976 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Keeney, R.L. (1976). Quantifying Corporate Preferences for Policy Analysis. In: Thiriez, H., Zionts, S. (eds) Multiple Criteria Decision Making. Lecture Notes in Economics and Mathematical Systems, vol 130. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-87563-2_21
Download citation
DOI: https://doi.org/10.1007/978-3-642-87563-2_21
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-07794-7
Online ISBN: 978-3-642-87563-2
eBook Packages: Springer Book Archive