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A Note on Consistency in Utility Assessment *
Author(s) -
Hughes Warren R.
Publication year - 1990
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1990.tb01256.x
Subject(s) - axiom , consistency (knowledge bases) , reciprocal , mathematical economics , von neumann architecture , divergence (linguistics) , set (abstract data type) , function (biology) , computer science , mathematics , pure mathematics , artificial intelligence , linguistics , philosophy , geometry , evolutionary biology , biology , programming language
A methodology for determining a von Neumann‐Morgenstern utility function is outlined based on the axioms crucial to such a function. Reconciliation of inconsistent judgments is facilitated using the theory of reciprocal matrices. Numerical measures of the collective divergence of a set of judgments from perfect consistency or coherency are provided.