04-30 Lecture Slides (Final)

6 noise 0 clean 0 10 8 1 8 5 30 08 06 00 00 6 6 7 4 8

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Unformatted text preview: 2 4/30/13 Multiattribute Utility Theory n༆  n༆  It is about choices involving multiple alternatives with multiple attributes Expected utility for an alternative = [(weighting of attribute1) x (utility rating of attribute1)] + [(weighting of attribute2) x (utility rating of attribute2)] + ……… + [(weighting of attributeN) x (utility rating of attributeN)] Multiattribute Utility Theory n༆  Deciding which apartment to rent ¨༊  ¨༊  Ratings for Each Dimension (1 = “Sucks big time”; 10 = “Awesome”) Four candidate apartments Dimensions: n༆  n༆  Rent Rent Size Proximity to school Noise level Cleanliness Size Close Noise Clean A 10 8 1 8 5 n༆  n༆  B 6 6 7 4 8 C 2 3 10 1 2 D n༆  3 10 2 6 10 One Student’s Perspective Student #1 A B C D Rent (.3) Size (.1) Close (.6) Noise (.0) Clean (.0) 10 8 1 8 5 (3.0) (0.8) (0.6) (0.0) (0.0) 6 6 7 4 8 (1.8) (0.6) (4.2) (0.0) (0.0) 2 3 10 1 2 (0.8) (0.3) (6.0) (0.0) (0.0) 3 10 2 6 10 (0.9) (1.0) (1.2) (0.0) (0.0) Total 4.4 6.6 7.1 3.1 3 4/30/13 Another Student’s Perspective A B C D Rent (.1) Size (.3) Close (.0) Noise (.2) Clean (.4) 10 8 1 8 5 (1.0) (2.4) (0.0) (1.6) (2.0) 6 6 7 4 8 (0.6) (1.8) (0.0) (0.8) (3.2) 2 3 10 1 2 (0.2) (0.9) (0.0) (0.2) (0.8) 3 10 2 6 10 (0.3) Stud...
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