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Measures of the Value of Information

Chapter

Abstract

This chapter investigates the measurement of the changes in the DM’s wellbeing that result from making a prior decision, processing a message, or incorporating an information source. To do this it is convenient to view a decision as a commodity, making it meaningful to consider the buying and selling prices for decisions with and without the incorporation of information.

Keywords

Utility Function Risk Premium Expected Utility Reservation Price Certainty Equivalent 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 1999

Authors and Affiliations

  1. 1.College of Business and Public AdministrationDrake UniversityDes MoinesUSA

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