On (Measurable) Multiattribute Value Functions: An Expository Argument
James E. Smith (jim.smith@dartmouth.edu) and
James S. Dyer (jim.dyer@mccombs.utexas.edu)
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James E. Smith: Tuck School of Business, Dartmouth College, Hanover, New Hampshire 03755
James S. Dyer: McCombs School of Business, The University of Texas at Austin, Austin, Texas 78712
Decision Analysis, 2021, vol. 18, issue 4, 247-256
Abstract:
In this note, we provide an easy-to-understand introduction to strength-of-preference measures in the context of deterministic multiattribute value assessments, focusing on what they are and why they matter. Though these issues are well understood by some decision analysts, we believe that many do not understand or appreciate the role of strength-of-preference assumptions when assessing or interpreting multiattribute value functions. The note is structured around an argument between the two authors that took place when reviewing applications of multiattribute value functions.
Keywords: multiattribute; value; theory (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ordeca:v:18:y:2021:i:4:p:247-256
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