One‐Switch Independence for Multiattribute Utility Functions

One‐Switch Independence for Multiattribute Utility Functions

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Article ID: iaor20117243
Volume: 59
Issue: 3
Start Page Number: 764
End Page Number: 771
Publication Date: May 2011
Journal: Operations Research
Authors: ,
Keywords: decision theory: multiple criteria
Abstract:

Assessment of multiattribute utility functions is significantly simplified if it is possible to decompose the function into more manageable pieces. Utility independence is a powerful property that serves well for this purpose, but if it is not appropriate in a given situation, what options does the analyst have? We review some possibilities and propose a new independence assumption based on the one‐switch property. We argue that it is a natural generalization of utility independence and show how it leads to tractable multiattribute utility functions.

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