A Class of Utility Functions
نویسندگان
چکیده
منابع مشابه
Maximizing a class of submodular utility functions
Given a finite ground set N and a value vector a ∈ RN , we consider optimization problems involving maximization of a submodular set utility function of the form h(S) = f i∈S ai ) , S ⊆ N , where f is a strictly concave, increasing, differentiable function. This utility function appears frequently in combinatorial optimization problems whenmodeling risk aversion and decreasing marginal preferen...
متن کاملA Class of Multiattribute Utility Functions
A function u(z) is a utility function if u′(z) ≥ 0. It is called risk averse if we also have u′′(z) ≤ 0. Some authors, however, require that u(i)(z) ≥ 0 if i is odd and u(i)(z) ≤ 0 if i is even. The notion of a multiattribute utility function can be defined by requiring that it is increasing in each variable and concave as an s-variate function. A stronger condition, similar to the one in case ...
متن کاملOn a Class of One-Switch Multiattribute Utility Functions
Several authors have presented methods to assess and derive the functional form of a single-attribute utility function based on the change in valuation of a lottery as the decision maker’s wealth increases (Abbas [1], Abbas and Aczél [2], Bell [7], Pfanzagl [9]). Bell [7] introduced and developed the idea of characterizing a utility function based on the maximum number of switches that may occu...
متن کاملMaximizing a class of submodular utility functions with constraints
Motivated by stochastic 0-1 integer programming problems with an expected utility objective, we study the mixed-integer nonlinear set: P = { (w, x) ∈ R× {0, 1}N : w ≤ f (a′x + d), b′x ≤ B } where N is a positive integer, f : R 7→ R is a concave function, a, b ∈ RN are nonnegative vectors, d is a real number and B is a positive real number. We propose a family of inequalities for the convex hull...
متن کاملA Conjugate Class of Utility Functions for Sequential Decision Problems.
The use of the conjugacy property for members of the exponential family of distributions is commonplace within Bayesian statistical analysis, allowing for tractable and simple solutions to problems of inference. However, despite a shared motivation, there has been little previous development of a similar property for using utility functions within a Bayesian decision analysis. As such, this art...
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ژورنال
عنوان ژورنال: The Annals of Statistics
سال: 1976
ISSN: 0090-5364
DOI: 10.1214/aos/1176343343