Multiattribute Utility Theory (MAUT)

James S. Dyer ()
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James S. Dyer: The McCombs School of Business, The University of Texas at Austin

Chapter Chapter 8 in Multiple Criteria Decision Analysis, 2016, pp 285-314 from Springer

Abstract: Abstract In this chapter, we provide a review of multiattribute utility theory. We begin with a brief review of single-attribute preference theory, and explore preference representations that measure a decision maker’s strength of preference and her preferences for risky alternatives. We emphasize the distinction between these two cases, and then explore the implications for multiattribute preference models. We describe the multiattribute decision problem, and discuss the conditions that allow a multiattribute preference function to be decomposed into additive and multiplicative forms under conditions of certainty and risk. The relationships among these distinct types of multiattribute preference functions are then explored, and issues related to their assessment and applications are surveyed.

Keywords: Multiattribute utility theory; Additive value functions; Preference modeling (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (9)

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DOI: 10.1007/978-1-4939-3094-4_8

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