The Effect of Attribute Ranges on Weights in Multiattribute Utility Measurements
Rüdiger von Nitzsch and
Additional contact information
Rüdiger von Nitzsch: Lehrstuhl für Betriebswirtschaftslehre, Universität zu Köln, Albertus-Magnus-Platz, 50923 Köln, Germany
Management Science, 1993, vol. 39, issue 8, 937-943
Multiattribute utility theory requires a specific relation between the range of outcomes of each attribute and the weight for that attribute. The greater the range, the greater the weight has to be. Experimental results show that subjects do not adjust their judgments properly if the range is varied. For the two methods tested the adjustment is smaller than required by theory. The bias was smaller for a regression procedure than for the direct ratio method. Weights based on an intuitive range were not found to be superior to those elicited over different ranges.
Keywords: multiattribute utility theory; weight assessment; range effect (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (41) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:39:y:1993:i:8:p:937-943
Access Statistics for this article
More articles in Management Science from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Matthew Walls ().