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Seven independence concepts and continuous multiattribute utility functions

Publication ,  Journal Article
Fishburn, PC; Keeney, RL
Published in: Journal of Mathematical Psychology
1974

This paper examines seven independence concepts based on a preference relation on the set of simple probability measures defined on a set of multiattribute consequences. Three of the independence relations involve gambles and the other four are based on riskless preferences over the n-tuples in the consequence set. The main theorems state conditions under which one or more of the risky independence relations can be derived from a riskless independence relation in conjunction with other conditions. The other conditions include a risky independence condition which differs from the one(s) to be derived, the assumption that the consequence set is a convex subset of a finite-dimensional Euclidean space, and the assumption that the individual's von Neumann-Morgenstern utility function on the consequence set is continuous. © 1974.

Duke Scholars

Published In

Journal of Mathematical Psychology

ISSN

0022-2496

Publication Date

1974

Volume

11

Issue

3

Start / End Page

294 / 327

Related Subject Headings

  • Experimental Psychology
  • 1702 Cognitive Sciences
  • 1701 Psychology
  • 0102 Applied Mathematics
 

Citation

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Fishburn, P. C., & Keeney, R. L. (1974). Seven independence concepts and continuous multiattribute utility functions. Journal of Mathematical Psychology, 11(3), 294–327.
Fishburn, P. C., and R. L. Keeney. “Seven independence concepts and continuous multiattribute utility functions.” Journal of Mathematical Psychology 11, no. 3 (1974): 294–327.
Fishburn PC, Keeney RL. Seven independence concepts and continuous multiattribute utility functions. Journal of Mathematical Psychology. 1974;11(3):294–327.
Fishburn, P. C., and R. L. Keeney. “Seven independence concepts and continuous multiattribute utility functions.” Journal of Mathematical Psychology, vol. 11, no. 3, 1974, pp. 294–327.
Fishburn PC, Keeney RL. Seven independence concepts and continuous multiattribute utility functions. Journal of Mathematical Psychology. 1974;11(3):294–327.
Journal cover image

Published In

Journal of Mathematical Psychology

ISSN

0022-2496

Publication Date

1974

Volume

11

Issue

3

Start / End Page

294 / 327

Related Subject Headings

  • Experimental Psychology
  • 1702 Cognitive Sciences
  • 1701 Psychology
  • 0102 Applied Mathematics