The effect of attribute ranges on weights in multiattribute utility measurements

Nitzsch, Rüdiger von ; Weber, Martin

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Document Type: Article
Year of publication: 1993
The title of a journal, publication series: Management Science
Volume: 39
Issue number: 8
Page range: 937-943
Place of publication: Cantonsville, MD
Publishing house: INFORMS
ISSN: 0025-1909 , 1526-5501
Publication language: English
Institution: Business School > ABWL u. Finanzwirtschaft, insbes. Bankbetriebslehre (Weber 1993-2017)
Subject: 150 Psychology
330 Economics
Abstract: Multiattribute utility theory requires a specific relation between the range of outcomes of each attribute and the weight for that attribute. The greater the range, the greater the weight has to be. Experimental results show that subjects do not adjust their judgments properly if the range is varied. For the two methods tested the adjustment is smaller than required by theory. The bias was smaller for a regression procedure than for the direct ratio method. Weights based on an intuitive range were not found to be superior to those elicited over different ranges.

Dieser Eintrag ist Teil der Universitätsbibliographie.

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