Multiattribute One-Switch Utility
在期望效用框架下,将单次切换性质扩展到多属性情形,识别出多属性单次切换效用函数的族类,并证明它们可近似为两个多属性指数效用之和,有助于简化多属性效用的评估。
The one-switch property states that the preference between any two lotteries switches at most once as wealth increases. Working within the expected utility framework, we extend the one-switch notion to the multiattribute case and identify the families of multiattribute utility functions that are one-switch. We then show that all multiattribute one-switch utility functions can be approximated by a sum of two multiattribute exponential utilities (sumex utility). Finally, we discuss how the one-switch property, when appropriate, can simplify the assessment of multiattribute utility. This paper was accepted by Peter Wakker, decision analysis.