Modelling the Process of Multiattribute Choice

Abstract

In most of the multiattribute utility models it is assumed that the analytical forms of partial and overall utility functions are known, and hence the problem becomes one of estimating the values of model parameters. This assumption is rather restrictive since one may not possess prior knowledge as to the analytical forms of such functions. The present paper is an attempt to eliminate some of the shortcomings of the existing models by proposing two new formulations of the multiattribute choice problem without a priori limitation to any strict form of partial utility function.

Keywords:

• decision
• marketing
• modelling
• multi-objective
• programming
• utility