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An analyst is assessing a DM's utility function for annual total vehicle travel time ann, 6 TVTT , in units of [10 veh-hrs], ranging from
An analyst is assessing a DM's utility function for annual total vehicle travel time
ann, 6 TVTT , in units of [10
veh-hrs], ranging from 0 to 20, and wishes to use a function:
20 ann ( )=( 20 ), 0<tvtt <20
The analyst has determined that the DM is indifferent between Alternative A and Alternative B:
Alternative A: Probability 0.3 of incurring 0 [106 veh-hrs] Probability 0.7 of incurring 20 [106 veh-hrs]
Alternative B: Probability 1.0 of incurring 5 [106 veh-hrs] What would you use for the DM's utility function? Show your work.
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