This paper gives a new explanation for the systematic disparity between standard gamble (SG) utilities and time trade-off (TTO) utilities. The common explanation, which is based on expected utility, is that the disparity is caused by curvature of the utility function for duration. This explanation i
A simple trade-off condition for additive multiattribute utility
✍ Scribed by PHILIPPE DELQUIÉ; MING LUO
- Publisher
- John Wiley and Sons
- Year
- 1997
- Tongue
- English
- Weight
- 235 KB
- Volume
- 6
- Category
- Article
- ISSN
- 1057-9214
No coin nor oath required. For personal study only.
✦ Synopsis
We show that only two simple trade-off judgments are sufficient to determine whether the multiplicative multiattribute model assumes its additive form, regardless of the number of attributes in the model. This additivity condition offers a useful alternative to the test based on multiattribute lotteries commonly presented in textbooks. It can make the determination of additivity easier and more reliable.
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