Applying Multi-attribute Utility Theory to Decision Making in Environmental Planning: A Case Study of the Electric Utility in Korea

This paper applies the multi-attribute utility theory (MAUT) to obtaining value judgments concerning the significance of environmental impacts to achieve integration of environmental concerns at an early stage of planning, using the electric utility of Korea as a specific case study. An environmental multi-attribute index is constructed as a multi-attribute utility function, based on value judgments provided by a group of experts related to electric utility and a decision maker from Korea Electric Power Corporation (KEPCO). The societal values are derived from examining trade-offs between environmentalindex and money. The implications of the results for KEPCO are also discussed. We found that the work and results can provide valuable insights and decision opportunities for major decision making in environmental planning facing KEPCO.