Models of tradeoffs in a hierarchical structure of objectives

Models of tradeoffs in a hierarchical structure of objectives

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Article ID: iaor1992421
Country: United States
Volume: 37
Issue: 8
Start Page Number: 1030
End Page Number: 1042
Publication Date: Aug 1991
Journal: Management Science
Authors:
Keywords: decision theory
Abstract:

Multiattribute utility models and cost-benefit models often arrange the objectives into a hierarchical structure in order to identify appropriate subobjectives and to select appropriate attributes to measure the subobjectives. This paper discusses nonadditive models that use the hierarchical structure in order to examine issues of tradeoffs that models in present use are not able to include. The models are sufficiently structured so that they can be applied by procedures that are similar to those available for other prescriptive models of preferences.

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