2015
DOI: 10.2507/ijsimm14(2)8.300
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The Effect of Loss-Averse Behaviour on Capacity Portfolio Planning for Power Systems

Abstract: A decision maker seldom behaves completely rationally when deciding on the investment in capacity portfolio for a power system. Thus his decision will certainly show some bias when compared with a truly risk-neutral one. In order to provide an in-depth analysis of such bias, this paper studies the issues influencing capacity portfolio planning for a power system when the decision maker is lossaverse. The investment decision is the result of the decision maker aiming to maximize utility, and the effect of this … Show more

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