Use of the equivalent attribute technique in multi-criteria planning of local energy systems

Espen Løken, Audun Botterud and Arne T. Holen

European Journal of Operational Research, 2009, vol. 197, issue 3, 1075-1083

Abstract: This paper discusses how the equivalent attribute technique (EAT) can be used to improve the comprehensibility of a multi-attribute utility theory study. When using EAT, 'vague' expected total utility values are converted into equivalent values for one of the attributes being considered, often an economic attribute. Two models are considered: a simplified linear model, and a more advanced non-linear model that includes the DM's strength-of-preference and risk attitude. EAT is particularly useful in distinguishing between alternatives with similar utility values. When the difference between utility values is larger, the choice among the alternatives should be clear, and EAT therefore becomes less useful. The technique can still be used, although extra care is needed when choosing the equivalent attribute. A local energy-planning problem is used as a case study to illustrate and exemplify the EAT approach.

Keywords: Multiple; criteria; analysis; OR; in; energy; Equivalent; attribute; technique; Local; energy-planning; Multi-attribute; utility; theory (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:197:y:2009:i:3:p:1075-1083

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