The one-switch property states that the preference between any two lotteries switches at most once as wealth increases. Working within the expected utility framework, we extend the one-switch notion to the multiattribute case and identify the families of multiattribute utility functions that are...

In a field study, the concept of intrinsic risk attitude is investigated. Intrinsic risk attitude concerns the relationship between risk attitude, measured by the utility function u(x), and strength of preference, measured by the value function v(x). We study farmers' decision-making vis-à-vis...

Conflict arises in decision making when the choice alternatives present strong advantages and disadvantages over one another, that is, when the trade--offs involved are large. Conflict affects human response to choice, in particular, it increases decision difficulty and response unreliability....

Preference models and utility functions are often assessed by eliciting value trade-offs among attributes. Prior research has shown that trade-off judgments can be biased in systematic ways: for example, the attribute which is used as response receives more relative subjective weight, i.e. the...

While Stochastic Dominance has been employed in various forms as early as 1932, it has only been since 1969--1970 that the notion has been developed and extensively employed in the area of economics, finance, agriculture, statistics, marketing and operations research. In this survey, the first-,...

Modelers, especially in operational research, are becoming increasingly aware that their role in decision-making raises moral problems. This paper discusses two questions: How do moral issues in modeling arise? How can these moral issues be addressed? I propose a framework that (1) provides...