What is it about?
A new way to characterize indifference curves (value functions) and the implications of an additive form.
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Why is it important?
Value functions underly any multi-attribute utility function and thus are critical to understanding decisions with multiple competing objectives.
Perspectives
Prior to this work, indifference curves (value functions) could only be assessed point by point. Now there's a smooth parameter than can characterize value functions, and that provides a definitive test as to whether or not a value function has an additive form.
Tom Keelin
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This page is a summary of: A Parametric Representation of Additive Value Functions, Management Science, October 1981, INFORMS,
DOI: 10.1287/mnsc.27.10.1200.
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