Risk Independence and Multiattributed Utility Functions
Name
OR-001-71.pdf
Size
851.8 KB
Format
Adobe PDF
Checksum (MD5)
3f5f07864016163b3f00ed73e5259828
Author(s)
Keeney, Ralph L.
Date Issued
June 1971
Publisher
Massachusetts Institute of Technology, Operations Research Center
Series/Report no.
Operations Research Center Working Paper;OR 001-71
Abstract
The concepts of conditional risk aversion, the conditional risk premium, and risk independence pertaining to multiattributed utility functions are defined. The latter notion is then generalized to what is called utility independence. A number of theorems useful for simplifying the assessment of multiattributed utility functions given certain risk independence and utility independence assumptions are stated.
MIT Department
Massachusetts Institute of Technology. Operations Research Center
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