{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,8,2]],"date-time":"2025-08-02T17:56:25Z","timestamp":1754157385817,"version":"3.41.2"},"reference-count":9,"publisher":"Emerald","issue":"1","license":[{"start":{"date-parts":[[2004,3,1]],"date-time":"2004-03-01T00:00:00Z","timestamp":1078099200000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"published-print":{"date-parts":[[2004,3,1]]},"abstract":"<jats:p>One of the important decision problems for a power system operator is to choose the appropriate operation point when possible contingencies must be considered. The operator may decide to do nothing or to take some actions that change the operating point and decrease the negative impact (cost) of some or all the contingencies. The purpose of this paper is to investigate the applicability of utility and value functions to this decision problem, since the large range of consequences raises some doubts about the fulfillment of the theoretical conditions imposed by Decision Theory. Although not essential to this discussion, some alternatives to prescriptive methodologies are presented and discussed, mostly regarding the definition of risk attributes and other determinist equivalents, suitable for multicriteria analysis.<\/jats:p>","DOI":"10.1108\/03321640410507662","type":"journal-article","created":{"date-parts":[[2004,4,29]],"date-time":"2004-04-29T20:17:05Z","timestamp":1083269825000},"page":"225-236","source":"Crossref","is-referenced-by-count":2,"title":["Formal requirements for utility and value functions for security\u2010related decisions"],"prefix":"10.1108","volume":"23","author":[{"given":"Manuel A.","family":"Matos","sequence":"first","affiliation":[]}],"member":"140","reference":[{"key":"key2021010620145815000_b1","unstructured":"Chankong, V. and Haimes, Y.Y. (1983), Multiobjective Decision Making, North\u2010Holland, New York."},{"key":"key2021010620145815000_b2","unstructured":"Clemen, R.T. and Reilly, T. (2001), Making Hard Decisions with Decision Tool, 2nd rev. ed., Duxbury Press, Pacific Grove."},{"key":"key2021010620145815000_b3","unstructured":"Keeney, R.L. and Raiffa, H. (1976), Decisions with Multiple Objectives, Wiley, New York."},{"key":"key2021010620145815000_b4","unstructured":"McCalley, J., Ni, M. and Vittal, V. (2001), \u201cSecurity mapping and reliability index evaluation\u201d, Final Project Report for EPRI Project WO663101, Report Number 1001979, Electric Power Research Institute."},{"key":"key2021010620145815000_b5","doi-asserted-by":"crossref","unstructured":"Ni, M., McCalley, J., Vittal, V., Greene, S., Ten, C., Gangula, V. and Tayyib, T. (2003), \u201cSoftware implementation of on\u2010line risk\u2010based security assessment\u201d, IEEE Trans. on PWRS, Vol. 18 No. 3.","DOI":"10.1109\/TPWRS.2003.814909"},{"key":"key2021010620145815000_b6","unstructured":"Ten, C. (2002), Visualization Techniques of Online Risk Based Security Assessment Application, Iowa State University."},{"key":"key2021010620145815000_b7","unstructured":"Thrall, R.M. (1954), \u201cApplications of multidimensional utility theory\u201d, in Thrall, R.M., Coombs, C.M. and Davis, R.L. (Eds), Decision Processes, Wiley, New York, pp. 181\u20106."},{"key":"key2021010620145815000_b8","unstructured":"Van Acker, V.A., McCalley, J.D. and Matos, M.A. (2000), \u201cMultiple criteria decision making using risk in power system operation\u201d, Proc. PMAPS'2000, Funchal."},{"key":"key2021010620145815000_b9","unstructured":"Von Newmann, J. and Morgenstern, O. (1944), Theory of Games and Economic Behavior, Princeton University Press, Princeton."}],"container-title":["COMPEL - The international journal for computation and mathematics in electrical and electronic engineering"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/www.emeraldinsight.com\/doi\/full-xml\/10.1108\/03321640410507662","content-type":"unspecified","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/03321640410507662\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/03321640410507662\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,7,24]],"date-time":"2025-07-24T23:47:45Z","timestamp":1753400865000},"score":1,"resource":{"primary":{"URL":"http:\/\/www.emerald.com\/compel\/article\/23\/1\/225-236\/45607"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2004,3,1]]},"references-count":9,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2004,3,1]]}},"alternative-id":["10.1108\/03321640410507662"],"URL":"https:\/\/doi.org\/10.1108\/03321640410507662","relation":{},"ISSN":["0332-1649"],"issn-type":[{"type":"print","value":"0332-1649"}],"subject":[],"published":{"date-parts":[[2004,3,1]]}}}