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Multi-attribute decision making and generalized expected utility in nuclear power plant maintenance. (English) Zbl 1012.90016
Machina, Mark J. (ed.) et al., Beliefs, interactions and preferences in decision making. Including papers from the 8th conference on foundations and applications of utility and risk theory (FUR VIII), Mons, France, July 2-5, 1997. Dordrecht: Kluwer Academic Publishers. Theory Decis. Libr., Ser. B. 40, 341-357 (1999).
Summary: In the field of nuclear power plant maintenance, it is not unusual that several strategies (scenarios) of preventive maintenance are being suggested at the same time. How to determine the most advisable choice among those suggested is not a trivial matter, because on the one hand, the consequences of a given strategy are multidimensional (impact on the maintenance costs, on the reliability of the systems, on the safety of the installation, on the availability of the power plant, on exposure to radiation, etc.) and on the other hand, these consequences are not deterministic. To select a strategy of preventive maintenance, the decision-maker (or the decision-making group) must then make a complicated and subtle choice, taking into account the tradeoff between his judgement about uncertainties and his evaluations of the many and contradictory things at stake. In decision theory, the most thorough method to resolve this kind of problem is multi-attribute utility theory.
For the entire collection see [Zbl 0958.00049].

90B50 Management decision making, including multiple objectives
90B25 Reliability, availability, maintenance, inspection in operations research
91B16 Utility theory