Noisy information value in utility-based decision making

Clayton T. Morrison, Paul R. Cohen

Research output: Chapter in Book/Report/Conference proceedingConference contribution

12 Scopus citations

Abstract

How much is information worth? In the context of decisions, the value of information is the expected increase in utility of the decision as a result of having the information. When the information might be noisy, the model is slightly more complicated. We develop a model of the value of noisy information in the context of a plausible intelligence information gathering and decision making scenario.

Original languageEnglish (US)
Title of host publicationProceedings of the 1st International Workshop on Utility-Based Data Mining, UBDM '05
Pages34-38
Number of pages5
DOIs
StatePublished - 2005
Event1st International Workshop on Utility-Based Data Mining, UBDM '05 - Chicago, IL, United States
Duration: Aug 21 2005Aug 21 2005

Publication series

NameProceedings of the 1st International Workshop on Utility-Based Data Mining, UBDM '05

Other

Other1st International Workshop on Utility-Based Data Mining, UBDM '05
Country/TerritoryUnited States
CityChicago, IL
Period8/21/058/21/05

Keywords

  • decision theory
  • economic utility
  • intelligence analysis
  • noise
  • uncertainty
  • value of information

ASJC Scopus subject areas

  • Computational Theory and Mathematics
  • Computer Science Applications

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