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Multiattribute Nonlinear Utility Theory

Author

Listed:
  • Peter C. Fishburn

    (AT&T Bell Laboratories, Inc., Murray Hill, New Jersey 07974)

Abstract

Independence axioms similar to those proposed for multiattribute von Neumann--Morgenstern linear utility theory are examined in the context of new nonlinear utility theories developed by Chew and MacCrimmon, and Fishburn. These new theories weaken the independence axiom of von Neumann and Morgenstern, and Fishburn's theory does not require preferences to be transitive. The paper shows that axioms for independence between attributes lead to decompositions of utility for the nonlinear theories that are related to standard decompositions for linear utility.

Suggested Citation

  • Peter C. Fishburn, 1984. "Multiattribute Nonlinear Utility Theory," Management Science, INFORMS, vol. 30(11), pages 1301-1310, November.
    • Handle: RePEc:inm:ormnsc:v:30:y:1984:i:11:p:1301-1310
    DOI: 10.1287/mnsc.30.11.1301
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    Citations

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    Cited by:

    1. Gebhard Geiger, 2012. "Multi-attribute non-expected utility," Annals of Operations Research, Springer, vol. 196(1), pages 263-292, July.
    2. Mehrez, Abraham, 1997. "The interface between OR/MS and decision theory," European Journal of Operational Research, Elsevier, vol. 99(1), pages 38-47, May.
    3. Bertrand Munier, 2001. "Risk Attitudes Appraisal and Cognitive Coordination in Decentralized Decision Systems," Group Decision and Negotiation, Springer, vol. 10(2), pages 141-158, March.
    4. Han Bleichrodt & Ulrich Schmidt & Horst Zank, 2009. "Additive Utility in Prospect Theory," Management Science, INFORMS, vol. 55(5), pages 863-873, May.
    5. He, Ying & Huang, Rui-Hua, 2008. "Risk attributes theory: Decision making under risk," European Journal of Operational Research, Elsevier, vol. 186(1), pages 243-260, April.
    6. Dogucan Mazicioglu & Jason R. W. Merrick, 2018. "Behavioral Modeling of Adversaries with Multiple Objectives in Counterterrorism," Risk Analysis, John Wiley & Sons, vol. 38(5), pages 962-977, May.

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