Utility Analysis: Current Trends and Future Directions
Year: 2001
Type: article
Abstract: Utility analysis procedures offer organizational decision‐makers useful information regarding the relative values of different interventions. Years of research have resulted in a number of practically viable utility models and extensions. There is a continued need for research to examine the accuracy of utility estimates and to further compare the different models. A more recent research concern is that of low levels of acceptance of utility analysis results by practitioners. Many researchers are turning their attention to ways in which this acceptance may be increased. This article reviews different utility models as well as a number of important extensions. It then discusses current utility analysis issues, such as the aforementioned acceptance problem and the introduction of a multi‐attribute utility model. The article concludes with suggestions for future utility analysis research.
Authors: Elizabeth F. Cabrera, Nambury S. Raju
Institution: Universidad Carlos III de Madrid
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2016407249