Skip to main content
SpringerLink
Log in
Book cover

Decision Making with Multiple Objectives pp 170–189Cite as

Multiattribute Utility Analysis and Collective Choice: A Methodological Review

  • Conference paper

Part of the book series: Lecture Notes in Economics and Mathematical Systems ((LNE,volume 242))

Abstract

This paper deals with a methodological review about some extensions of multiattribute utility analysis to collective choice or group decision making. Collective-choice have two aspects; one is to consider a diversification of evaluation and the other is to reconcile the value conflicts among multiple decision makers (MDM). Although a main problem of the collective choice is to solve the value conflicts in multiple agents decision making, there will be alternative devices for pretreating diversity of evaluations.

This is a preview of subscription content, log in via an institution.

Chapter
USD   29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD   84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD   109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Learn about institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Reference

  • Arrow, K.J., A difficulty in the concept of social welfare. Journal of Political Economy, Vol. 58, 1950, pp.328–346.

    Article  Google Scholar 

  • Arrow, K.J., Social Choice and Individual Values, 2nd ed. Wiley, New York, 1963 (1st. ed. 1951).

    Google Scholar 

  • Arrow, K.J., Theory of risk aversion, in Essays in the theory of risk bearing, chap.3, North-Holland, 1970.

    Google Scholar 

  • Bawa, V.S., Optimal rules for ordering uncertain prospects, Journal of Financial Economics, Vol. 2, 1975, pp.95–121.

    Article  Google Scholar 

  • Bell, D.E. and H. Raiffa, Marginal value and intrinsic risk aversion, in H. Kunreuther (ed.), Risk: a seminar series, IIASA Collective proceedings series, CP-82-S2, 1982, pp.325–349.

    Google Scholar 

  • Blin, J.M., Fuzzy relations in group decision theory, Journal of Cybernetics, Vol. 4, no. 2, 1974, pp.17–22.

    Article  Google Scholar 

  • Blin, J.M. and A.B. Whinston, Fuzzy sets and social choice, Journal of Cybernetics, Vol. 3, no. 4, 1974, pp.28–36.

    Article  Google Scholar 

  • Bodily, S.E., Stability, equality, balance, and multivariate risk, in J.N. Morse (ed.), Organizations: Multiple Agents with Multiple Criteria, Springer, 1981.

    Google Scholar 

  • Diamond, P.A., Cardinal welfare, individualistic ethics, and interpersonal comparison of utility: Comment, Journal of Political Economy, Vol. 75, 1967, pp.765–766.

    Article  Google Scholar 

  • Dubois, D. and H. Prade, Operations on fuzzy numbers, International Journal of Systems Science, Vol. 9, no. 6, 1978, pp.613–626.

    Article  Google Scholar 

  • Dubois, D. and H. Prade, Systems of linear fuzzy constraints, Fuzzy Sets and Systems, Vol. 3, 1980, pp.37–48.

    Article  Google Scholar 

  • Dyer, J.S. and R.K. Sarin, Cardinal preference aggregation rule for the case of certainty, in S. Zionts (ed.), Multiple Criteria Problem Solving, Springer-Verlag, 1978, pp. 68–86.

    Chapter  Google Scholar 

  • Dyer, J.S. and R.K. Sarin, Measurable multiattribute value functions, Operations Research, Vol. 27, no. 4, 1979 (a), pp.810–822.

    Article  Google Scholar 

  • Dyer, J.S. and R.K. Sarin, Group preference aggregation rules based on strength of preference, Management Science, Vol. 25, no. 9, 1979(b), pp.822–832.

    Article  Google Scholar 

  • Ellsberg, D., Classic and current notions of measurable utility, Economic Journal, Vol. 64, 1954, pp.528–556.

    Article  Google Scholar 

  • Fishburn, P.C., Decision and Value Theory, Wiley, New York, 1964.

    Google Scholar 

  • Fishburn, P.C. and R.G. Vickson, Theoretical foundations of stochastic dominance, in G.A. Whitmore and M.C. Findlay (ed.), Stochastic Dominance, Lexington, 1978, pp.39–113.

    Google Scholar 

  • Hadar, J. and Russell, W.R., Rules for Ordering Uncertain Prospects, American Economic Review, Vol. 59, 1969, pp.25–34.

    Google Scholar 

  • Hadar, J. and W.R. Russell, Stochastic Dominance and Diversification, Journal of Economic Theory, Vol. 3, 1971, pp.288–305.

    Article  Google Scholar 

  • Hanoch, G. and H. Levy, The efficiency analysis of choices involving risk, Review of Economic Studies, Vol. 36, 1969, pp.335–346.

    Article  Google Scholar 

  • Harsanyi, J.C., Cardinal welfare, individualistic ethics, and interpersonal comparisons of utility, Journal of Political Economy, Vol. 63, 1955, pp.309–321.

    Article  Google Scholar 

  • Herstein, I.N. and J. Milnor, An axiomatic approach to measurable utility, Econometrica, Vol. 21, 1953, pp.291–197.

    Article  Google Scholar 

  • Hicks, J.R., Lequidity, Economic Journal, Vol. 72, 1962, pp.787–802.

    Article  Google Scholar 

  • Huang, C.C., Vertinsky, I. and W.T. Ziemba, On multiperiod stochastic dominance, Journal of Financial and Quantitative Analysis, Vol. 13, 1978, pp.1–13.

    Article  Google Scholar 

  • Huang, C.C, Kira, D. and I. Vertinsky; Stochastic dominance rules for multiattribute utility functions, Review of Economic Studies, Vol. 45, 1978, pp.611–615.

    Article  Google Scholar 

  • Keeney, R.L., Multiplicative utility functions, Operations Research, Vol. 22, 1974, pp.22–34.

    Article  Google Scholar 

  • Keeney, R.L., A group preference axiomatization with cardinal utility, Management Science, Vol. 23, no.2, 1976, pp.140–145.

    Article  Google Scholar 

  • Keeney, R.L. and C. Kirkwood, Group decision making using cardinal social welfare functions, Management Science, Vol. 22, no. 4, 1975, pp.430–437.

    Article  Google Scholar 

  • Keeney, R.L. and H. Raiffa, Decisions with Multiple Objectives, Preferences and Value Tradeoffs, John Wiley, New York, 1976.

    Google Scholar 

  • Kirkwood, C.W., Social decision analysis using multiattribute utility theory, in S. Zionts (ed.), Multiple Criteria Problem Solving, Springer-verlag, 1978, pp.335–344.

    Chapter  Google Scholar 

  • Kirkwood, C.W., Pareto optimality and equity in social decision analysis, IEEE Transactions on Systems, Man and Cybernetics, Vol. SMC-9, no. 2, 1979, pp.89–91.

    Google Scholar 

  • Levy, H. and M. Sarnat, Alternative efficiency Criteria: an empirical analysis, Journal of Finance, Vol. 25, No. 5, 1970, pp.1153–1158.

    Google Scholar 

  • Levy, H., Stochastic dominance, efficiency criteria and efficient portfolios: the multi-period case, American Economic Review, Vol. 63, No. 5, 1973, pp.986–994.

    Google Scholar 

  • Levy, H. and J. Paroush, Multi-period stochastic dominance, Management Science, Vol. 21, No. 4, 1974, pp.428–435.

    Article  Google Scholar 

  • Luce, R.D. and H. Raiffa, Games and Decisions, John Wiley & Sons, 1957.

    Google Scholar 

  • Marschak, J., Rational behavior, uncertain prospects and measurable utility, Econometrica, Vo. 18, 1950, pp.111–141.

    Article  Google Scholar 

  • Marschak, J., Scaling of utilities and probability, in M. Shubik (ed.), Game Theory and Related Approaches to Social Behavior, John Wiley, 1964, pp.95–109.

    Google Scholar 

  • Pratt, J.W., Risk aversion in the small and in the large, Econometrica, Vol.32, 1964, pp.122–136.

    Article  Google Scholar 

  • Pratt, J., Raiffa, H., and R. Schlaifer, The foundations of decision under uncertainty, Journal of American Statistical Association, Vol. 59, 1964, pp.353–375.

    Google Scholar 

  • Quirk, J.P. and R. Saposnik, Admissibility and measurable utility functions, Review of Economic Studies, Vol. 29, 1962, pp.140–146.

    Article  Google Scholar 

  • Raiffa, H. Decision Analysis, Addison-Wesley, Reading Mass. 1968.

    Google Scholar 

  • Richard, S.F., Multivariate risk aversion, utility independence and separable utility functions, Management Science, Vol. 22, no. 1, 1975, pp.12–21.

    Article  Google Scholar 

  • Sakawa, M. and F. Seo, An interactive computer program for subjective systems and its application, WP-80–64, IIASA, Laxenburg, Austria.

    Google Scholar 

  • Sakawa, M. and F. Seo, Integrated methodology for computer-aided decision analysis, in (eds.) Trappl, R., F. de P. Hanika and R. Tomlinson, Progress in Cybernetics and Systems Research, X, Hemisphere Pub. Co., N.Y., 1982, pp.333–341.

    Google Scholar 

  • Seo, F. and M. Sakawa, An experimental method for diversified evaluation and risk assessment with conflicting objectives, IEEE Transactions on Systems, Man, and Cybernetics, Vol. 14, no. 2, 1984 (a).

    Google Scholar 

  • Seo, F. and M. Sakawa, Fuzzy assessment of multiattribute utility functions, in A. Wierzbicki and M. Grauer (eds.) Interactive Decision Analysis and Interpretative Computer Intelligence, Springer-Verlag, 1984 (b), pp.97–104.

    Google Scholar 

  • Seo, F. and M. Sakawa, Fuzzy multiattribute utility analysis for collective choice, IEEE Transactions on Systems, Man and Cybernetics, Vol.15, No.1, 1985.

    Google Scholar 

  • Smith, A., The Theory of Moral Sentiments, 1759, 6th ed. 1970, AAlen Otto Zeller, 1963.

    Google Scholar 

  • Whitmore, G.A., Third-degree Stochastic dominance, American Economic Review, Vol. 60, No. 3, 1970, pp.457–459.

    Google Scholar 

  • Zadeh, L.A., Fuzzy sets, Information and Control, Vol. 8, 1965, pp.338–353.

    Article  Google Scholar 

  • Zadeh, L.A., Similarity relations and fuzzy orderings, Information Sciences, Vol. 3, 1971, pp. 177–200.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Kyoto Institute of Economic Research, Kyoto University, Kyoto 606, Japan

    Fumiko Seo

Authors
  1. Fumiko Seo
    View author publications

    You can also search for this author in PubMed Google Scholar

Editor information

Editors and Affiliations

  1. Systems Engineering Department, Case Institute of Technology, Case Western Reserve University, Cleveland, Ohio, 44106, USA

    Yacov Y. Haimes  & Vira Chankong  & 

Rights and permissions

Reprints and permissions

Copyright information

© 1985 Springer-Verlag Berlin Heidelberg

About this paper

Cite this paper

Seo, F. (1985). Multiattribute Utility Analysis and Collective Choice: A Methodological Review. In: Haimes, Y.Y., Chankong, V. (eds) Decision Making with Multiple Objectives. Lecture Notes in Economics and Mathematical Systems, vol 242. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-46536-9_11

Download citation

  • DOI: https://doi.org/10.1007/978-3-642-46536-9_11

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-15223-1

  • Online ISBN: 978-3-642-46536-9

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics

Search

Navigation