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Multiattribute Utility Theory, Multiple Objectives And Uncertainty In Ex Ante Project Evaluation

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  • Dillon, John L.
  • Perry, Chad

Abstract

A wide variety of methods have been suggested for ex ante project appraisal. The most logical and complete of these appears to be multiattribute utility theory (MAUT) which provides a formal procedure for handling the difficulties of ex ante evaluation arising from multiple objectives, intangibles, time-sequence effects and uncertainty. MAUT procedures, comprising an extension of subjective expected utility procedures to choice between multi attributed alternatives, are described and applied to an illustrative example.

Suggested Citation

  • Dillon, John L. & Perry, Chad, 1977. "Multiattribute Utility Theory, Multiple Objectives And Uncertainty In Ex Ante Project Evaluation," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 45(01-2), pages 1-25, March.
    • Handle: RePEc:ags:remaae:9180
    DOI: 10.22004/ag.econ.9180
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    References listed on IDEAS

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    Cited by:

    1. Parton, Kevin A., 1979. "The Use Of A Decision Maker'S Utility Function In A Linear Programming Analysis Of Agricultural Policy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 23(3), pages 1-13, December.
    2. Nuthall, P. L., 2001. "Managerial ability -- a review of its basis and potential improvement using psychological concepts," Agricultural Economics, Blackwell, vol. 24(3), pages 247-262, March.
    3. Anderson, J.R., 1989. "Forecasting, uncertainty, and public project appraisal," Policy Research Working Paper Series 154, The World Bank.
    4. Hayashi, Kiyotada, 2000. "Multicriteria analysis for agricultural resource management: A critical survey and future perspectives," European Journal of Operational Research, Elsevier, vol. 122(2), pages 486-500, April.

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