Question

Who considered independent utility function and who considered interdependent utility function?​

Answer 1

Answer:

Mathematician John von Neumann (1903–1957) and economist Oscar Morgenstern (1902–1977) who, in their book Theory of Games and Economic Behavior, laid the foundations for modern expected utility theory. ... ...

Independent utility means a test to determine what constitutes a single and complete project. A project is considered to have independent utility if it would be constructed absent the construction of other projects in the project area.

Answer 2

Test to determine what constitutes one project and Individual Preferences  

Explanation:

• Independent utility means a test to determine what constitutes one and complete project. A project is taken into account to own independent utility if it might be constructed absent the development of other projects within the project area. Portions of a phased development project that rely upon other phases of the project don't have independent utility.

• Interdependent Utility Function : An assumption on individual preferences under which the subjective well-being of an individual depends on some measure of well-being of other individuals (a 'reference group'), such as kin, peers, etc.