Multiattribute Nonlinear Utility Theory

Peter C. Fishburn
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Peter C. Fishburn: AT&T Bell Laboratories, Inc., Murray Hill, New Jersey 07974

Management Science, 1984, vol. 30, issue 11, 1301-1310

Abstract: Independence axioms similar to those proposed for multiattribute von Neumann--Morgenstern linear utility theory are examined in the context of new nonlinear utility theories developed by Chew and MacCrimmon, and Fishburn. These new theories weaken the independence axiom of von Neumann and Morgenstern, and Fishburn's theory does not require preferences to be transitive. The paper shows that axioms for independence between attributes lead to decompositions of utility for the nonlinear theories that are related to standard decompositions for linear utility.

Keywords: nonlinear utility; multiattribute; independence axioms (search for similar items in EconPapers)
Date: 1984
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:30:y:1984:i:11:p:1301-1310

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