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Management Sciences and Quantitative Methods

Selected Works

2005

Jeffrey Keisler

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Additivity Of Information Value In Two-Act Linear Loss Decisions With Normal Priors, Jeffrey Keisler Mar 2005

Additivity Of Information Value In Two-Act Linear Loss Decisions With Normal Priors, Jeffrey Keisler

Jeffrey Keisler

For the two-act linear loss decision problem with normal priors, conditions are derived for which the expected value of perfect information about two independent risks is super-additive in value. Several applications show how a variety of decision problems can reduce to the canonical problem, and how the general results obtained here can be translated simply to prescriptions for specific situations.

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