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Indifference Spanning Analysis

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Foundations of Utility and Risk Theory with Applications

Part of the book series: Theory and Decision Library ((TDLU,volume 37))

Abstract

The indifference spanning approach to assessing multiattribute utility functions is based on conditional indifference relations. Such relations are used to derive multiadditive representations that involve finite sums of products of single-attribute conditional utility functions. This paper reviews the multiadditive representation theorems of Fish-burn and Farquhar (1982) and then provides a procedure for constructing a set of basis elements to implement the indifference spanning approach. Several examples and directions for further research are given also.

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Author information

Authors and Affiliations

  1. Univ. of California, Davis, Davis, California, USA

    Peter H. Farquhar

  2. Bell Telephone Laboratories, Murray Hill, New Jersey, USA

    Peter C. Fishburn

Authors
  1. Peter H. Farquhar
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  2. Peter C. Fishburn
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Editor information

Editors and Affiliations

  1. University of Olso, Norway

    Bernt P. Stigum

  2. Norwegian School of Management, Bekkestua, Norway

    Fred Wenstøp

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© 1983 Springer Science+Business Media Dordrecht

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Farquhar, P.H., Fishburn, P.C. (1983). Indifference Spanning Analysis. In: Stigum, B.P., Wenstøp, F. (eds) Foundations of Utility and Risk Theory with Applications. Theory and Decision Library, vol 37. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-1590-4_24

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  • DOI: https://doi.org/10.1007/978-94-017-1590-4_24

  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-90-481-8364-7

  • Online ISBN: 978-94-017-1590-4

  • eBook Packages: Springer Book Archive

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