Multi-Attribute Utility Theory: Models and Assessment Procedures

Abstract

The article reviews multi-attribute utility theory from a measurement theoretic perspective. It describes and classifies decision situations according to three salient aspects of choice: uncertainty, time-variability, and multi-dimensionality. For each choice situation the main mathematical representations, their inter-relations and differences are discussed. Measurement theoretic tests are described which separate between multi-attribute utility models in riskless and risky time invariant choice situations. Assessment procedures are outlined to encode utility functions for the representations developed, and experimental applications of multi-attribute utility theory are briefly reviewed.

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Document Details

Document Type
Technical Report
Publication Date
Nov 05, 1973
Accession Number
AD0770576

Entities

People

  • Detlof V. Winterfeldt
  • Gregory W. Fischer

Organizations

  • University of Michigan

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Analysis Of Variance
  • Behavioral Sciences
  • Color Television
  • Commerce
  • Engineering
  • Human Factors Engineering
  • Information Processing
  • Information Systems
  • Judgment
  • New York
  • Operations Research
  • Probability
  • Psychology
  • Standards
  • Statistical Analysis
  • Time Intervals
  • Uncertainty

Fields of Study

  • Psychology

Readers

  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.
  • Theoretical Analysis.