Suppose that you are buying a car and you are interested in bothprice and life span. You have narrowed your choices to threealternatives: the Portalo (a relatively expensive sedan with goodlife span), the Norushi (known for its reliability) and theStandard (a relatively inexpensive domestic car).
|
Portalo |
Norushi |
Standard |
|
|
Price |
$17,000 |
$10,000 |
$8000 |
|
Life Span (years) |
12 |
9 |
6 |
You have the following individual utility functions for priceand life span:
|
Life Span |
Price |
|
UL (6 years) = 0 |
UP (17,000) = 0 |
|
UL (9 years) = 0.75 |
UP (10,000) = 0.5 |
|
UL (12 years) = OR
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