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The Value of Information in Negotiations with Incomplete Information
2006 International Conference on Information Technology: Research and Education, 2006The paper considers bilateral negotiations between a buyer agent and a seller agent, where incomplete information exists on the reservation price of both agents. We analyzed a symmetrical negotiation model in which delay is the only signalling device.
Daphna Dor-Shifer +2 more
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The Value of Value of Information
PharmacoEconomics, 2010Value of information (VOI) methods have been proposed as a systematic approach to inform optimal research design and prioritization. Four related questions arise that VOI methods could address. (i) Is further research for a health technology assessment (HTA) potentially worthwhile?
Eckermann, Simon, Karnon, J, Willan, A
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Components of Portfolio Value of Information
Decision Analysis, 2013Decision analysis is often employed in portfolio management. The portfolio management process consists primarily of valuation (including uncertainty quantification or risk assessment) and prioritization/selection, which are based on the results of valuation. In this paper, we quantify the relative value of these components using a value of information
Kun Zan, J. Eric Bickel
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The value of perfect information
Synthese, 1967This paper is an attempt to assess the value of information of a certain type, in terms of its usefulness for decision making.
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The Value of Sequential Information
Management Science, 1975In decision analysis we normally consider the value of information to be a constant against which the cost of information is compared. However, when it is possible to buy information sequentially, the value of information is not a constant. Rather, it is a function of the prices of the various pieces of information, or “observables.” When we are faced
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IEEE Transactions on Systems Science and Cybernetics, 1966
The information theory developed by Shannon was designed to place a quantitative measure on the amount of information involved in any communication. The early developers stressed that the information measure was dependent only on the probabilistic structure of the communication process.
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The information theory developed by Shannon was designed to place a quantitative measure on the amount of information involved in any communication. The early developers stressed that the information measure was dependent only on the probabilistic structure of the communication process.
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The Value of Information in Production Economies
Journal of Economic Theory, 2001For decades, economists have conjectured that the value of information may not be necessarily positive in decision making. Moreover, it is known that Blackwell's theorem [\textit{D. Blackwell}, Ann. Math. Stat. 24, 265-272 (1953; Zbl 0050.36004)] which claims that the value of information is always, does not hold in many economic circumstances.
Eckwert, Bernhard, Zilcha, Itzhak
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A Bound on the Financial Value of Information
IEEE Transactions on Information Theory, 1988It will be shown that each bit of information at most doubles the resulting wealth in the general stock market setup. This information bound on the growth of wealth is actually attained for certain probability distributions on the market investigated by \textit{J. Kelly} [Bell Syst. Tech. J. 35, 917-926 (1956)].
Andrew R. Barron, Thomas M. Cover
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On the Value of Commitment with Asymmetric Information
Econometrica, 1996Summary: Several recent papers have emphasized that long-term relationships can be efficiently governed by short-term contracts, provided that there is no asymmetric information at the contracting dates. This excludes not only adverse selection problems, but also moral hazards problems in which hidden actions generate private information over the ...
Rey, Patrick, Salanie, Bernard
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Value in Informational Capitalism and on the Internet
The Information Society, 2012We engage with recent applications of the Marxist “labor theory of value” to online prosumer practices, and offer an alternative framework for theorizing value creation in such practices. We argue that the labor theory of value is difficult to apply to online prosumer practices for two reasons. One, value creation in such practices is poorly related to
Adam Arvidsson, Elanor Colleoni
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