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A Group Preference Axiomatization with Cardinal Utility

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  • Ralph L. Keeney

    (International Institute for Applied Systems Analysis, Laxenburg, Austria)

Abstract

Given a group composed of N individuals and given that each has rated all of the alternatives using a cardinal utility function, the problem is to aggregate these to obtain a group cardinal utility function for evaluating each alternative. The cardinal utilities indicate the strength of preference of one alternative relative to others as well as order the alternatives. Five assumptions, which seem reasonable for the aggregation, are postulated, and it is shown the group cardinal utility function which is implied must be a linear combination of the individual cardinal utility functions. For assessing such a function, interpersonal comparisons of preferences are required. Suggestions for who should make these comparisons and how they might be done are given.

Suggested Citation

  • Ralph L. Keeney, 1976. "A Group Preference Axiomatization with Cardinal Utility," Management Science, INFORMS, vol. 23(2), pages 140-145, October.
    • Handle: RePEc:inm:ormnsc:v:23:y:1976:i:2:p:140-145
    DOI: 10.1287/mnsc.23.2.140
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