Research Article

Research on Overconfidence in Decision-Making for the Capacity Recovery of Damaged Power Systems

Table 1

Notation descriptions in the proposed model.

Electricity demand of the public during disruption period
Residual capacity that can still be in operation after disruption and
Manager’s decision of capacity recovery
Random disturbance to capacity recovery process with its probability density and distribution functions of and , respectively, with the mean and variance being and , respectively
Electricity shortage cost per capacity, which is also the regulatory punishment according to Electricity Regulatory Ordinance of China, given by regulation number 599
Recovery cost per damaged capacity
Operation cost per normal capacity
Factor of overestimation behavior of the manager
Factor of overprecision behavior of the manager