A Multiattribute Utility Model for Consumer Decision Making And Optimal Product Configuration

Defining clear purchasing/procurement goals coping with numerous factors, while organizing our thought process in order to make an educated decision, is paramount. However, decision makers suffer from the lack of robust and fast decision making rules especially when qualitative decision criteria are involved in the decision making process. Incorporating intuitive thinking, common sense and reasoning into decision making process requires structured decision criteria and justification of every possible outcome including the risks associated with. We propose a multi-attribute utility based model to approximate the decision making process of a customer under such uncertainty. We further use this model to estimate optimal product configurations for different classes of customers