2008, Volume 10, Issue 7
Strategic Study of CAE >> 2008, Volume 10, Issue 7
Multi-objective decision model for construction diversionschemes based on utility
1. State Key Laboratory of Water Resource and Hydropower Engineering Science, Wuhan University, Wuhan 430072, China ;
2. Development and Reform Commission of Jinshan District, Shanghai 200540, China
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Abstract
Based on the relation between the choice of diversion schemes and the investment cost,period,risk, its risk loss of diversion structure,the paper puts forward the utility function of decision makers.When calculating three decision indexes of risk,period and utility of risk loss, this paper presents a multi-objective decision-making method for diversion schemes considering the utility of risk loss by applying multi-objective decision-making theory. The case study shows that the result of decision making by the multi-objective decision model based on utility reflects the decision maker's favor to his risk preference and his fullest satisfaction.
Keywords
diversion scheme ; utility losing ; multi-objective decision ; risk preference
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