When a multiattribute utility function is only partially specified by prior preference statements, what can be said about the relative desirability of actual alternatives? This question is addressed ...

Fact checked by Ariel Courage Reviewed by Erika Rasure What Is Utility Function? A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of ...

Suppose we know the utility function of a risk averse decision maker who values a risky prospect X at a price C E. Based on this information alone I develop upper bounds for the tails of the ...