The Value of Information in Bayesian Decision Analysis

Decision analysis has several elements: actions, chance occurrences, probabilities, final outcomes, additional information, decision. This paper deals with additional information and their value in decision making process.

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Year of publication:	2005
Authors:	Jankovic-Milic, Vesna ; Radukic, Snezana
Published in:	Management, Information and Marketing Aspects of the Economic Development of the Balkan Countries. - University of National and World Economy. - 2005, November, p. 220-227
Publisher:	University of National and World Economy
Subject:	Bayes' theorem \| value \| utility \| decision

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Extent:	application/pdf
Type of publication:	Article
Classification:	C - Mathematical and Quantitative Methods ; C4 - Econometric and Statistical Methods: Special Topics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005696217