Quantifying Corporate Preferences for Policy Analysis

  • Ralph L. Keeney
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 130)

Abstract

This paper discusses the quantification of preferences over ten major objectives of a corporation. The objectives concern personal, professional, and financial goals. The procedure used to elicit a ten-attribute von Neumann-Morgenstern utility function from a board member of Woodward-Clyde Consultants is presented. First the objectives and associated attributes are specified. Then the actual assessment is summarized. Uses of the results for examining policy are discussed.

Keywords

Transportation Income Marketing 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. [1]
    Debreu, G., “Topological Methods in Cardinal Utility Theory”, in K.J. Arrow, S. Karlin, and P. Suppes (Eds.), Mathematical Methods in the Social Sciences, 1959, Stanford University Press, Stanford, California, 1960.Google Scholar
  2. [2]
    Fishburn, P.C., “Independence in Utility Theory with Whole Product Sets”, Operations Research, Vol. 13, 28–45, 1965Google Scholar
  3. [3]
    Fishburn, P.C., Utility Theory for Decision Making, Wiley, New York, 1970Google Scholar
  4. [4]
    Keeney, R.L., “Multiplicative Utility Functions”, Operations Research, Vol. 22, 22–34, 1974.Google Scholar
  5. [5]
    Keeney, R. L., “Examining Corporate Policy Using Multiattribute Utility Analysis”, RM-75–36, I.I.A.S.A., Laxenburg, Austria, 1975.Google Scholar
  6. [6]
    Keeney, R.L., and H. Raiffa, Decision Analysis with Multiple Conflicting Objectives, to be published by Wiley, New York, 1976.Google Scholar
  7. [7]
    Keeney, R.L., and A. Sicherman, “An Interactive Computer Program for Assessing and Using Multiattribute Utility Functions”, RM-75–12, I.I.A.S.A., Laxenburg, Austria, 1975.Google Scholar
  8. [8]
    Raiffa, H., “Preferences for Multi-Attributed Alternatives”, RM-5868-DOT/RC, The RAND Corporation, April, 1969.Google Scholar
  9. [9]
    Schlaifer, R.O., Analysis of Decisions under Uncertainty, McGraw-Hill, New York, 1969.Google Scholar
  10. [10]
    von Neumann, J., and O. Morgenstern, Theory of Games and Economic Behavior 2nd Ed., Princeton University Press, Princeton, New Jersey, 1947.Google Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 1976

Authors and Affiliations

  • Ralph L. Keeney
    • 1
  1. 1.International Institute for Applied Systems AnalysisLaxenburgAustria

Personalised recommendations