Abstract
Chapter 13 introduces into information procurement decisions. Such decisions come up in the context of “normal” decision problems: The actor has to choose whether to decide on the basis of the existing information or to invest time and money in gaining additional information. Following the introduction into this issue, the approach of Bayes is explained. Based on Bayes’ decision theory, practical recommendations are deducted.
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Grünig, R., Kühn, R. (2017). Information Procurement Decisions. In: Solving Complex Decision Problems. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-53814-2_13
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DOI: https://doi.org/10.1007/978-3-662-53814-2_13
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Print ISBN: 978-3-662-53813-5
Online ISBN: 978-3-662-53814-2
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