Example
The value function for “Expected salary in 3 years” is determined with the bisection method.
Salary range is from 2500 to 3500 euros. As higher salary is preferred, set v(xmin) = v(2500) = 0 v(xmax) = v(3500) = 1
Define the midpoint m1 such that the change in value when salary changes from m1 to 2500 is equal to the change in value when salary changes from 3500 to m1. Let’s choose m1 = 2900.
Now v(2900) = 0.5·v(2500) + 0.5·v(3500) = 0.5
Value measurement techniques: Bisection method