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The Value of Information in Bayesian Decision Analysis

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Author Info
Vesna Jankovic-Milic
Snezana Radukic (Nish, Faculty of Economic, Serbia)
Abstract

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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File URL: http://unwe.acad.bg/repec/sources/6c2005.pdf
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Publisher Info
Article provided by Department of Management and Informatics, University of National and World Economy in its journal Information and Marketing Aspects of the economically Development of the Balkan Countries.

Volume (Year): (2005)
Issue (Month): (November)
Pages: 220-227
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Handle: RePEc:nwe:confer:y:2005:p:220-227

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Web page: http://www.unwe.acad.bg/
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Related research
Keywords: Bayes' theorem; value; utility; decision;

Find related papers by JEL classification:
C - Mathematical and Quantitative Methods
C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics

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This page was last updated on 2009-12-16.

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