Abstract
Consider a finite set of alternatives under risk which have multiple attributes. MARPI is an interactive computer-based procedure to find an efficient choice in the sense of linear expected utility. The choice is based on incomplete information about the decision maker’s preferences which is elicited and processed in a sequential way. The information includes qualitative properties of the multivariate utility function such as monotoneity, risk aversion, and separability. Further, in case of an additively separable utility function, bounds on the attribute weights are elicited, and preferences (not necessarily indifferences) between sure amounts and lotteries are asked from the decision maker. The lotteries are Bernoulli lotteries generated by MARPI using special strategies. At every stage of the procedure the efficient set of alternatives is determined with respect to the information elicited so far.
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© 1993 Springer-Verlag Berlin Heidelberg
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Holz, H., Mosler, K. (1993). An Interactive Decision Procedure with Multiple Attributes under Risk. In: Karmann, A., Mosler, K., Schader, M., Uebe, G. (eds) Operations Research ’92. Physica, Heidelberg. https://doi.org/10.1007/978-3-662-12629-5_142
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DOI: https://doi.org/10.1007/978-3-662-12629-5_142
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-0679-3
Online ISBN: 978-3-662-12629-5
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