Competition in the electric service industry is highlighting the importance of a number of issues affecting the nature and quality of customer service. The quality of service(s) provided to electricity customers may be enhanced by competition, if doing so offers service suppliers a competitive advantage. On the other hand, service quality offered to some consumers could decline if utilities foc...

Much of this is taken from Luce and Raiffa’s book and G. Owen’s book and this should be thought of as an extract from these references. Decision making is classified into four types based on who makes the decision (i)individual; (ii)group and on under what conditions it is made: (a)certainty;(b)risk; (c)uncertainty; or (d) combination of (b) and (c). Regardless of whether the decision is made b...

In the last decade, theory of constraint application in project management lead to make a new approach for project scheduling and control as a critical chain. In this paper, a multi-objective optimization model for multi-project scheduling on critical chain is investigated. The objectives include time, cost and quality. In order to solve the problem, a Simulated Annealing algorithm is developed...

Quality-adjusted life years (QALY) utility models are multiattribute utility models of survival duration and health quality. This paper formulates six classes of QALY utility models and axiomatizes these models under expected utility (EU) and rank-dependent utility (RDU) assumptions. The QALY models investigated in this paper include the standard linear QALY model, the power and exponential mul...

Empirical research often requires a method how to convert a deterministic economic theory into an econometric model. A popular method is to add a random error term on the utility scale. This method, however, violates stochastic dominance. A modification of this method is proposed to avoid violations of dominance. The modified model compares favorably to other existing models in terms of goodnes...