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Information Systems in Management Science---Bayesian Information Economics: An Evaluation

Author

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  • Jack P. C. Kleijnen

    (Department of Business and Economics, Katholieke Hogeschool, Tilburg, The Netherlands)

Abstract

In the columns of this journal Vazsonyi has advocated the use of decision calculus in the economic evaluation of management information systems [Vazsonyi, A. 1976. The decision to inquire. Interfaces 7 (1, November) 73--80; Vazsonyi, A. 1978. Geometry of information systems. Part II. Interfaces 8 (2) 88--94.]. The reader may also know this calculus under such names as Bayesian Decision Analysis or Information Economics . The purpose of this contribution is to discuss the advantages and disadvantages of such an approach.

Suggested Citation

  • Jack P. C. Kleijnen, 1980. "Information Systems in Management Science---Bayesian Information Economics: An Evaluation," Interfaces, INFORMS, vol. 10(3), pages 93-97, June.
    • Handle: RePEc:inm:orinte:v:10:y:1980:i:3:p:93-97
    DOI: 10.1287/inte.10.3.93
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    Cited by:

    1. Tyrychtr, Jan, 2017. "Economic Value of Information Systems in Agriculture: Cohesion and Coupling of Information Elements," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 9(3), September.
    2. Tyrychtr, J., 2017. "Analytical System with Decision Tree for Economic Benefit," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 9(4).

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    Keywords

    decision analysis; information systems;

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