Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
479122 | European Journal of Operational Research | 2007 | 15 Pages |
Abstract
Practical implementation of Multiattribute Utility Theory is limited, partly for the lack of operative methods to elicit the parameters of the Multiattribute Utility Function, particularly when this function is not linear. As a consequence, most studies are restricted to linear specifications, which are easier to estimate and to interpret. We propose an indirect method to elicit the parameters of a non-linear utility function to be compatible with the observed behaviour of decision makers, rather than with their answers to direct surveys. The idea rests on approaching the parameter estimation problem as a dual of the decision problem by making the observed decisions to be compatible with a rational decision making process.
Related Topics
Physical Sciences and Engineering
Computer Science
Computer Science (General)
Authors
Francisco J. André, Laura Riesgo,