STOCHASTIC MULTI-ATTRIBUTE UTILITY MODEL

Abstract

In real situations, the attribute value (mostly variable)
can be best represented by introducing the finite number
of attribute values level, to which the corresponding
probabilities should also be attached. Stochastic Multi-
Attribute Utility Model has the ability to analyze such
stochastic multi-attribute problems. The choice of one,
from the set of available options, is made by choosing
the best option based on the maximum expected utility
structure. In this paper, we will mention some arguments
for the development of the Stochastic Multi-Attribute
Utility Model, its advantages (they are closer to reality),
disadvantages (analytically difficult technique, subjective
assessments of the values of variable attributes), as
well as the process of solving the problem.