Multiattribute utility theory without expected utility foundations
成果类型：
Article
署名作者：
Miyamoto, JM; Wakker, P
署名单位：
Leiden University - Excl LUMC; Leiden University
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.44.2.313
发表日期：
1996
页码：
313-326
关键词：
摘要：
Methods for determining the form of utilities are: needed for the implementation of utility theory in specific decisions. An important step forward was achieved when utility theorists characterized useful parametric families of utilities and simplifying decompositions of multiattribute utilities. The standard development of these results is based on expected utility theory which is now known to be descriptively invalid. The empirical violations of expected utility impair the credibility of utility assessments. This paper shows, however, that parametric and multiattribute utility results are robust against the major violations of expected utility. They retain their validity under nonexpected utility theories that have been developed to account for actual choice behavior. To be precise, characterizations of parametric and multiattribute representations are extended to rank-dependent utility, state-dependent utility, Choquet-expected utility, and prospect theory.