Maximization of an Asymmetric Utility Function by the Least Squares
Journal Title: Decision Making in Manufacturing and Services - Year 2014, Vol 8, Issue 1
Abstract
This note points out that a utility maximization procedure proposed in an earlier paper may be reduced to the least squares.The utility function is asymmetric in the sense that for each cue an ideal value and a permissible range are assigned in such a way that the ideal value is not necessarily at the center of the interval, like "a beer of 350 [ml] would be ideal, but acceptable if within [100, 500]". A practical consequence of the observation is that very little programming will be needed to deploy the utility maximization, since software for the least squares is widely available.
Authors and Affiliations
Kiyoshi Yoneda, Antonio Moretti
Keywords
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- EP ID EP165613
- DOI 10.7494/dmms.2014.8.1.5
- Views 120
- Downloads 0
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