Abstract
This paper is an attempt to assess the value of information a certain type, in terms of its usefulness for decision making.
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Notes
Colin Cherry, On Human Communication: A Review, a Survey, and a Criticism, New York 1957, p. 243.
Still more generally, a decision function could be defined as that from E to the set of mixed actions, i.e., to the class of all probability distributions on A. We will, however, restrict out argument to the simpler case.
Cf. K. Szaniawski, ‘Some Remarks Concerning the Criterion of Rational Decision-Making’, Studia Logica 9 (1960) 221–239.
Let us note, in passing, that this value is invariant under the change of origin on the utility scale. This remark applies to all variants of the proposes definition, i.e., it remains valid whatever criterion is adopted.
This, again, is valid in all cases considered.
See note 3 above.
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© 1998 Springer Science+Business Media Dordrecht
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Szaniawski, K. (1998). The Value of Perfect Information. In: Chmielewski, A., Woleński, J. (eds) On Science, Inference, Information and Decision-Making. Synthese Library, vol 271. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-5260-0_16
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DOI: https://doi.org/10.1007/978-94-011-5260-0_16
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