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- Title
Generalized Utility Independence and Some Implications.
- Authors
Fishburn, Peter C.; Keeney, Ralph L.
- Abstract
This paper introduces the concept of generalized utility independence. Subject to various generalized utility independence assumptions, we derive three functional forms for a multiattribute von Neumann-Margenstern utility function u. These are the additive, the multiplicative, and the quasi-additive forms, each of which expresses u as a combination of utility functions defined on the separate attributes. It is demonstrated that if u is unbounded from above and below, then given the three forms, either reversal of preferences over some attributes occurs or else the additive form must hold.
- Subjects
UTILITY functions; ECONOMIC demand; QUASICONFORMAL mappings; STATISTICAL hypothesis testing; VALUE (Economics); MULTIPLE criteria decision making; MATHEMATICAL models; MATHEMATICS
- Publication
Operations Research, 1975, Vol 23, Issue 5, p928
- ISSN
0030-364X
- Publication type
Article
- DOI
10.1287/opre.23.5.928