When utilities are summed for each of the concepts being judged, the rank order of these sums should match the respondent's rank ordering of preference as closely as possible.

Question

Quizplus · Accepted Answer

This statement is true as it is the fundamental principle of utility theory, which assumes that individuals make rational decisions based on maximizing the utility or satisfaction they receive from the choices available to them. In order to validate this assumption, the utility values assigned to each attribute or alternative must reflect the true preferences of the individual being analyzed. If the rank order of the utility sums does not match the respondent's rank ordering of preference, it suggests that the model is not accurately capturing the underlying preferences of the individual.

When Utilities Are Summed for Each of the Concepts Being