Local utility functions

1993 ◽  
Vol 34 (2) ◽  
pp. 109-118 ◽  
Author(s):  
Peter Bardsley
Keyword(s):  
Utility Functions ◽  
Local Utility Functions

Multiple Objective Design Optimization by Estimating Local Utility Functions

1994 ◽  
Author(s):  
Jian-Bo Yang ◽  
Pratyush Sen
Keyword(s):  
Decision Making ◽  
Learning Process ◽  
Utility Functions ◽  
Multiple Objective ◽  
Preference Learning ◽  
Compromise Solution ◽  
Design Synthesis ◽  
Trade Off ◽  
Multiple Objective Decision Making ◽  
Local Utility Functions

Abstract This paper presents the application of an interactive multiple objective decision making (MODM) procedure to design synthesis. This procedure is composed of an interactive step trade-off method (ISTM) and the estimation of local utility functions. The ISTM method is used as a preference learning process to assist a designer (decision maker or DM) in generating a representative sub-set of efficient designs (solutions). In this learning process, the DM is expected to compare the generated solutions in a pairwise manner to express his preferences. A set of additive local utility functions are then estimated to help the DM search for his best compromise solution. A multiple objective design synthesis problem is examined using the procedure.

Towards a Consistent Preference Representation in Engineering Design

1998 ◽  
Author(s):  
Jie Wan ◽  
Sundar Krishnamurty
Keyword(s):  
Engineering Design ◽  
Deductive Reasoning ◽  
Utility Functions ◽  
Design Environment ◽  
Preference Information ◽  
Beam Design ◽  
Preference Representation ◽  
Complex Engineering ◽  
Local Utility Functions

Abstract Multiattribute utility theory is commonly used to define and represent the decision-maker’s preferences under conditions of uncertainty and risk. A major issue in implementing this approach deals with the identification and generation of appropriate utility functions, especially in an often nonlinear and complex engineering design environment. Typically, the decision-maker’s preferences are provided through lottery questions rather than based on deductive reasoning to reflect the nonlinear tradeoffs among the attributes. The use of such an intuitive procedure can lead to inconsistent and inexact preference information that may result in inaccuracy and rank reversal problems. Alternatively, this paper presents an Interactive Preference-Modeling (IPM) method towards a consistent preference representation in engineering design. Focusing on the preference orientation by implicitly articulating the designer’s priorities, this method provides a methodical framework to check and eliminate inconsistency in preference information, and to accurately express preferences through rational pairwise comparisons. The development of IPM method and its utilization in the determination of the system utility function from a consistent set of local utility functions are presented in the context of a beam design problem and the results are discussed.

scholarly journals AXIOMATIZATIONS AND FACTORIZATIONS OF SUGENO UTILITY FUNCTIONS

2011 ◽  
Vol 19 (04) ◽  
pp. 635-658 ◽  
Author(s):  
MIGUEL COUCEIRO ◽  
TAMÁS WALDHAUSER
Keyword(s):  
Utility Function ◽  
Polynomial Function ◽  
Utility Functions ◽  
Aggregation Model ◽  
Sugeno Integral ◽  
Local Utility Functions ◽  
Class Of Functions

In this paper we consider a multicriteria aggregation model where local utility functions of different sorts are aggregated using Sugeno integrals, and which we refer to as Sugeno utility functions. We propose a general approach to study such functions via the notion of pseudo-Sugeno integral (or, equivalently, pseudo-polynomial function), which naturally generalizes that of Sugeno integral, and provide several axiomatizations for this class of functions.Moreover, we address and solve the problem of factorizing a Sugeno utility function as a composition q(φ1(x1),…,φn(xn)) of a Sugeno integral q with local utility functions φi, if such a factorization exists.

A Model for Applying Information and Utility Functions

1963 ◽  
Vol 30 (3) ◽  
pp. 267-273 ◽  
Author(s):  
David Harrah
Keyword(s):  
Utility Functions

scholarly journals Pareto Efficient Auctions with Interest Rates

2019 ◽  
Vol 33 ◽  
pp. 1989-1995
Author(s):  
Gagan Goel ◽  
Vahab Mirrokni ◽  
Renato Paes Leme
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Utility Functions ◽  
Limited Access ◽  
Incentive Compatible ◽  
Pareto Efficient ◽  
Available Resources

We consider auction settings in which agents have limited access to monetary resources but are able to make payments larger than their available resources by taking loans with a certain interest rate. This setting is a strict generalization of budget constrained utility functions (which corresponds to infinite interest rates). Our main result is an incentive compatible and Pareto-efficient auction for a divisible multi-unit setting with 2 players who are able to borrow money with the same interest rate. The auction is an ascending price clock auction that bears some similarities to the clinching auction but at the same time is a considerable departure from this framework: allocated goods can be de-allocated in future and given to other agents and prices for previously allocated goods can be raised.

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