Document Type
Article
Publication Date
April 2005
Abstract
For the two-act linear loss decision problem with normal priors, conditions are derived for which the expected value of perfect information about two independent risks is super-additive in value. Several applications show how a variety of decision problems can reduce to the canonical problem, and how the general results obtained here can be translated simply to prescriptions for specific situations.
Recommended Citation
Keisler, Jeffrey, "Additivity of information value in two-act linear loss decisions with normal priors" (2005). Management Science and Information Systems Faculty Publication Series. 38.
https://scholarworks.umb.edu/msis_faculty_pubs/38
Included in
Management Sciences and Quantitative Methods Commons, Statistics and Probability Commons
Comments
This is a preliminary version of the article. The citation is: Keisler, J. M. (2005), Additivity of Information Value in Two-Act Linear Loss Decisions with Normal Priors. Risk Analysis, 25: 351–359. doi: 10.1111/j.1539-6924.2005.00594.x The final article is available at the following link: http://onlinelibrary.wiley.com/doi/10.1111/j.1539-6924.2005.00594.x/full