Expected value of perfect information

The expected value if the future uncertain outcomes could be known minus the expected value with no additional information. The New York Times Financial Glossary

Financial and business terms. 2012.

Look at other dictionaries:

  • Expected value of perfect information — In decision theory, the expected value of perfect information (EVPI) is the price that one would be willing to pay in order to gain access to perfect information. [Douglas Hubbard How to Measure Anything: Finding the Value of Intangibles in… …   Wikipedia

  • expected value of perfect information — The expected value if the future uncertain outcomes could be known minus the expected value with no additional information. Bloomberg Financial Dictionary …   Financial and business terms

  • Expected value of sample information — In decision theory, the expected value of sample information (EVSI) is the price that one would be willing to pay in order to gain access to a sample from the distribution about which the prediction has to be made. For example, if one needs to… …   Wikipedia

  • Value of information — (VoI) in decision analysis is the amount a decision maker would be willing to pay for information prior to making a decision. imilar termsVoI is sometimes distinguished into value of perfect information, also called value of clairvoyance (VoC),… …   Wikipedia

  • Information gain in decision trees — In information theory and machine learning, information gain is an alternative synonym for Kullback–Leibler divergence . In particular, the information gain about a random variable X obtained from an observation that a random variable A takes the …   Wikipedia

  • Information theory — Not to be confused with Information science. Information theory is a branch of applied mathematics and electrical engineering involving the quantification of information. Information theory was developed by Claude E. Shannon to find fundamental… …   Wikipedia

  • Information Processing and Information Systems — ▪ 1995       Sweeping change marked the U.S. computer industry in 1994 as longtime players exited the stage and rival systems struggled to dominate the next generation of personal computer (PC) operating systems and microprocessors. The industry… …   Universalium

  • Perfect Dark — This article is about the Nintendo 64 video game. For other uses, see Perfect Dark (disambiguation). Perfect Dark …   Wikipedia

  • information theory — the mathematical theory concerned with the content, transmission, storage, and retrieval of information, usually in the form of messages or data, and esp. by means of computers. [1945 50] * * * ▪ mathematics Introduction       a mathematical… …   Universalium

  • Applied information economics — (AIE) is a decision analysis method developed by Douglas W. Hubbard and partially described in his book How to Measure Anything: Finding the Value of Intangibles in Business [D. Hubbard, How to Measure Anything: Finding the Value of Intangibles… …   Wikipedia

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