The expected utility theory applied to an industrial decision problem  what technological alternative to implement to treat industrial solid residuals
This paper presents a method developed to solve industrial decision problems based on Expected Utility Theory. The approach involves five steps: The purpose of this paper is to present an approach based on the Expected Utility Theory to solve an industrial decision problem  the choice of the best technical alternative to deal with industrial solid residuals. The decision model is built based on choices elicited from the technical staff of a particular mill. The sensitivity of the solution with respect to the decision weights is evaluated in order to establish the regions of dominance of each technical solution. The best solution in present economical and strategic scenario is to burn the residuals into a fluidised-incinerator bed in the mill.
multiattribute utility theory additive models sensitivity analysis industrial residuals treatment