Kind of assessment for additive independence

Reference no: EM13981348

For some of the attributes in your computer decision, you face uncertainty. The additive utility function assessed in Problem 15.17 essentially assumes that additive independence among attributes is reasonable.

a Check some of your attributes with formal assessments for additive independence. Follow the example in the text in setting up the two lotteries. (One lottery is a 50-50 gamble between best and worst on both attributes. The other is a 50-50 gamble be- tween (i) best on X, worst on Y; and (ii) worst on X, best on Y)

b How could you extend this kind of assessment for additive independence to more than two attributes?

Reference no: EM13981348

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