One-Switch Independence for Multiattribute Utility Functions

Authors:
Ali E. Abbas;David E. Bell
Affiliations:
University of Illinois at Urbana--Champaign, Urbana, Illinois 61820;Harvard Business School, Boston, Massachusetts 02163
Venue:
Operations Research
Year:
2011

Citing 4
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Abstract

Assessment of multiattribute utility functions is significantly simplified if it is possible to decompose the function into more manageable pieces. Utility independence is a powerful property that serves well for this purpose, but if it is not appropriate in a given situation, what options does the analyst have? We review some possibilities and propose a new independence assumption based on the one-switch property. We argue that it is a natural generalization of utility independence and show how it leads to tractable multiattribute utility functions.