Right, and finally we looked at a couple of results that make this possible. Typically,
we have, we have, we would need utility matrices for all possible combinations of values. We
would have to assign a utility, which is again going to explode in our face. So what we would
hope for is utility functions that we can either fully determine via few values or that
we can approximate by few values. And it turns out that indeed most utility functions have
a form like this, where we have single functions, one place functions that, remember we have
these diseases where we have these dampening factors. So this is the kind of sane situation
here. We have influences or weights, factors typically, that give us the influence of a
single variable. And then we have some kind of formula that is relatively simple, for
instance, that combines them. And there is a couple of theorems that essentially says
under certain conditions, which is preferential independentness, then we get indeed such functions
where F is essentially just addition. And you can strengthen those things by looking
at not preferential independence, but also by utility independence, which is what we
really want. So if you don't just have an ordinal utility function, but a full utility
function, then we can still get something where we have a simple combination. And there
we have what was called a multiplicative utility function. It's not quite as nice as for the
preferences, but of course a utility function rather than a preference function has to have
more information. And we have the same quasi-linear things where we have a sum over a variety
of products. Much better than the general case in practice, but exponential as well
eventually, unless we have lots of zero factors, which may very well be.
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Aufnahmedatum
2021-03-30
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Recap: Multi-Attribute Utility (Part 2)
Main video on the topic in chapter 5 clip 6.