Multivalent Preference Structures.
Abstract
This paper presents a valence approach for assessing multiattribute utility functions. Unlike the decomposition approach which uses independence axioms on whole attributes to obtain utility representations, the valence approach partitions the elements of each attribute into classes on the basis of equivalent conditional preference orders. These partitions generate multivalent utility independence axioms that lead to additive-multiplicative and quasi-additive representation theorems for multiattribute utility functions defined over product sets of equivalence classes. Preference interdependencies are thereby reflected in these classes, so attribute interactions are readily interpreted and the functional forms of the representations are kept simple. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- May 01, 1979
- Accession Number
- ADA075165
Entities
People
- Peter H. Farquhar
Organizations
- Harvard University