Research Reports from the Department of Operations
Document Type
Report
Publication Date
5-1-1971
Abstract
This paper investigates the characteristics of subjective estimation, specifically with regard to those techniques used in the measurement of utility as a function of some decision alternative. Regression analysis is applied to such bivariate estimates for the purpose of obtaining a generalized representation of the functional relationship expressed by same. Then, because of special properties of the subjective estimates themselves, certain statistics are shown to exist which simultaneously provide global measures of goodness of fit and consensus; furthermore, assuming the use of an iterative data collection process, there is also provided a measure of the rate of convergence of the process to consensus.
Keywords
Operations research, Regression analysis, Utility theory, Decision making--Mathematical models, Iterative methods (Mathematics)
Publication Title
Technical Memorandums from the Department of Operations, School of Management, Case Western Reserve University
Issue
Technical memorandum no. 213
Rights
This work is in the public domain and may be freely downloaded for personal or academic use
Recommended Citation
Salvador, Michael S., "On the Uses of Linear Regression Analysis in the Determination of Continuous Utility Functions" (1971). Research Reports from the Department of Operations. 372.
https://commons.case.edu/wsom-ops-reports/372