Investigating Two-Attribute Utility Function Regarding “No Independence Properties Hold”
Keywords:
Statistical decision, Two-attribute utility function, Utility independence, Whitening techniqueAbstract
In two-attribute statistical decision-making problems, two-attribute utility function is needed to be calculated for making the best decision. In the presence of any independence between the attributes, additive independence or mutual utility independence and so on, the calculation of two-attribute utility function is easy. But when no independence properties hold between the attributes, the calculation of twoattribute utility function will be difficult. In this paper two-attribute utility function is studied. There would be three main methods to calculate the two-attribute utility function regarding "no independence properties hold". These methods are: transformation of Attributes, Direct Assessment and Employment Utility Independent over Subsets of Consequences Space. These methods discussed completely with their deficiencies. Also we propose whitening technique to improve the transformation of attributes method.
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