Value of Information Analysis

  • Uffe B. Kjærulff
  • Anders L. Madsen
Part of the Information Science and Statistics book series (ISS, volume 22)

Abstract

Probabilistic networks are constructed to support belief update and decision making under uncertainty. A common solution to a belief update problem is the posterior probability distribution over a hypothesis variable given a set of evidence. Similarly, the solution to a decision-making problem is an optimal decision given a set of evidence. When faced with a belief update or decision-making problem, we may have the option to consult additional information sources for further information that may improve the solution. Value of information analysis is a tool for analyzing the potential usefulness of additional information before the information source is consulted.

Keywords

Entropy Alse 

Copyright information

© Springer Science+Business Media New York 2013

Authors and Affiliations

  • Uffe B. Kjærulff
    • 1
  • Anders L. Madsen
    • 1
    • 2
  1. 1.Department of Computer ScienceAalborg UniversityAalborgDenmark
  2. 2.HUGIN EXPERT A/SAalborgDenmark

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