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HomeMIT IDS.333 Risk and Decision Analysis, Fall 2021Unit 10: Utility Analysis and Multidimensional Evaluation, Video 3: Conditions for Value Function

Unit 10: Utility Analysis and Multidimensional Evaluation, Video 3: Conditions for Value Function

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This presents the logical conditions needed to justify an objective value function. This provides the basis for the important conclusion that there is no valid group utility for system performance.