Computing the Value of Information in Quadratic Stochastic Decision Problems

2008 ◽  
pp. 179-184
Author(s):  
Sigifredo Laengle
Keyword(s):  
Value Of Information ◽  
Decision Problems

scholarly journals Dynamic consistency, valuable information and subjective beliefs

2021 ◽  
Author(s):  
Spyros Galanis
Keyword(s):  
Value Of Information ◽  
Single Agent ◽  
Bayesian Updating ◽  
Dynamic Consistency ◽  
Decision Problems ◽  
Backward Induction ◽  
Subjective Expected Utility ◽  
Trading Behavior ◽  
Subjective Beliefs ◽  
Convex Preferences

AbstractAmbiguity sensitive preferences must fail either Consequentialism or Dynamic Consistency (DC), two properties that are compatible with subjective expected utility and Bayesian updating, while forming the basis of backward induction and dynamic programming. We examine the connection between these properties in a general environment of convex preferences over monetary acts and find that, far from being incompatible, they are connected in an economically meaningful way. In single-agent decision problems, positive value of information characterises one direction of DC. We propose a weakening of DC and show that one direction is equivalent to weakly valuable information, whereas the other characterises the Bayesian updating of the subjective beliefs which are revealed by trading behavior.

Bounds on the value of information in uncertain decision problems

Stochastics ◽  
1975 ◽  
Vol 1 (1-4) ◽  
pp. 361-378 ◽  
Author(s):  
W. T. Ziemba ◽  
J. E. Butterworth
Keyword(s):  
Value Of Information ◽  
Decision Problems

Bounds on the value of information in uncertain decision problems II

Stochastics ◽  
1983 ◽  
Vol 10 (3-4) ◽  
pp. 181-217 ◽  
Author(s):  
D. B. Hausch ◽  
W. T. Ziemba
Keyword(s):  
Value Of Information ◽  
Decision Problems

Effects of Risk Aversion on the Value of Information in Two-Action Decision Problems

2013 ◽  
Vol 10 (3) ◽  
pp. 257-275 ◽  
Author(s):  
Ali E. Abbas ◽  
N. Onur Bakır ◽  
Georgia-Ann Klutke ◽  
Zhengwei Sun
Keyword(s):  
Risk Aversion ◽  
Value Of Information ◽  
Decision Problems ◽  
Action Decision

scholarly journals The value of information in monotone decision problems

2018 ◽  
Vol 72 (1) ◽  
pp. 101-116 ◽  
Author(s):  
Susan Athey ◽  
Jonathan Levin
Keyword(s):  
Value Of Information ◽  
Decision Problems

Computing the value of information of quadratic decision problems and its non-negativity conditions

Optimization ◽  
2016 ◽  
Vol 66 (8) ◽  
pp. 1337-1358 ◽  
Author(s):  
Fabián Flores-Bazán ◽  
Sigifredo Laengle
Keyword(s):  
Value Of Information ◽  
Decision Problems

ALGORITHM FOR DETERMINING THE DEGREE VALUES OF CONFIDENTIAL DOCUMENTS OF THE ORGANIZATION

2017 ◽  
pp. 80-88
Author(s):  
Sergey Valerevich Belov ◽  
Irina Mikhalovna Kosmacheva ◽  
Irina Vyacheslavovna Sibikina
Keyword(s):  
Information Security ◽  
Russian Federation ◽  
Value Of Information ◽  
Weighting Factor ◽  
State Regulation ◽  
The State ◽  
Information Security Management ◽  
Pair Comparison ◽  
The Russian Federation ◽  
Properties Of Information

To solve the problem of information security management the method was proposed that allows determining the degree of importance of confidential documents of the organization. The urgency of the proposed algorithm was substantiated taking into account the requirements of the legislation of the Russian Federation in the sphere of information security. The stages prior to the formation of the list of confidential documents of the organization were described. A review of the main documents of the legal and regulatory framework was carried out including documents relating to the state regulation of relations in the sphere of information security. The classes of protected information for the accessing categories were considered. The criteria changes of the value of information in the process of time were represented. The algorithm of formation of the list of confidential documents of the organization based on the properties of information was offered. The algorithm is based on an expert method of pair comparison of alternatives. The result of the use of this method is a number of confidential documents, ranked in descending order of importance. For each document the weighting factor of importance can be calculated. The verification stage of the degree of expert consistency was included in the methodology to eliminate the use of erroneous expert data. The application of the methodology is illustrated by a calculated example.

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