MAUT stands for multiattribute utility theory (or multiple attribute utility theory) it is probably one of the oldest and most established mcdm techniques.

Some associate it with tool like the Analytic hierarchy process (AHP) but you may also want to consider looking up the seminal book by Keeney and Raiffa (1976).

Madm or modm?

If you apply MAUT for decision making, it would probably be defined as MADM (where DM stands for decision making). MODM deals with the objectives, which may or may not be attributes. In some ways, multiple objective decision making can be more general, but typically is associated with optimization (mathematical programming) models. But, not always. There are some characterizations of Multiple criteria decision making models in some books, maybe looking some up, or some review papers may provide you with more information.

You can find the seminal paper republished here.

Bernoulli, D. (1954). Exposition of a New Theory on the Measurement of Risk. Econometrica, 22, 22–36.

The the theory says you can change the probability (you can calculate) for utility (you can estimate).

Imagine you have 1 for 2 odds in a bet. When you bet $100, you can earning 50, or lose 100. That means it is good for you enter in this game, but if you bet $1000, you could lose more.

So, the probability is the same, but the utility is diferent.

Thank you very much

Dear Moh,

I've just read other your questions concerning MAUT, MADM,MODM.

I recommend you to download free my User Guide from my ResGate page, and you can find there brief and clear answers forall your questions + additional references.

=Boris

Hi Mr Emamat

1-Multiple Objective Decision Making:

The main purpose of multi-objective planning is to optimize point design, that is, the decision maker seeks to obtain the optimal point, the methods of which are solved mainly by algorithms and tuning of Min and Max models.

2- Multiple Attribute Decision Making Models:

Which are used to select the top option. The main purpose of these models is to select and rank between the known and known alternatives, meaning that the decision maker chooses one of several known alternatives and these models are solved by matrix estimation.

You can refer to my book on decision making techniques.

Multi Attribute Decision Making Techniques (With Software Implementation)