On the Difference Between the Cardinalities of Measurable Value Functions and Von Neumann-Morgenstern Utility Functions

Published Online:https://doi.org/10.1287/opre.45.2.307

Dyer and Sarin (Dyer, J. S., R. K. Sarin. 1979. Measurable multiattribute value functions. Opns. Res.27 810–822.) proposed an important generalization of the additive-multiplicative decomposition theorem for von Neumann-Morgenstern (vNM) utility functions to measurable value functions based on the cardinality property of measurable value functions. However, because of a difference between the cardinality of measurable value functions and the cardinality of vNM utility functions, an additional technical condition is needed, and presented here, for the decomposition theorem to hold.

INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.