Chapter 13 - The value of information. Chapter 13 examines the value of acquiring new information about relevant risks before making an important decision and also analyzes the problem of optimal search for the best alternative. | Chapter Thirteen The Value of Information The race isn’t always to the fastest nor the battle to the strongest, but that is the way you should bet. ~Damon Runyan For discussion The Stock Market and the Economy Forecasting the economy is big business. The Value of Information The Oil Wildcatter Revisited Imperfect Information 4 Figure A Perfect Seismic Test Figure An Imperfect Seismic Test Revising Probabilities Bayes’ Theorem Health Risks from Smoking Valueless Information A New Seismic Test Other Applications Predicting Credit Risks Business Behavior and Decision Pitfalls Example 1: Likely Occupations Example 2: 3 Boxes Example 3: Testing for Cancer Other Applications The Challenger Disaster and NASA’s Risk Analysis Figure The Winner’s Curse Figure Yacht Orders and the Stock . | Chapter Thirteen The Value of Information The race isn’t always to the fastest nor the battle to the strongest, but that is the way you should bet. ~Damon Runyan For discussion The Stock Market and the Economy Forecasting the economy is big business. The Value of Information The Oil Wildcatter Revisited Imperfect Information 4 Figure A Perfect Seismic Test Figure An Imperfect Seismic Test Revising Probabilities Bayes’ Theorem Health Risks from Smoking Valueless Information A New Seismic Test Other Applications Predicting Credit Risks Business Behavior and Decision Pitfalls Example 1: Likely Occupations Example 2: 3 Boxes Example 3: Testing for Cancer Other Applications The Challenger Disaster and NASA’s Risk Analysis Figure The Winner’s Curse Figure Yacht Orders and the Stock . | Chapter Thirteen The Value of Information The race isn’t always to the fastest nor the battle to the strongest, but that is the way you should bet. ~Damon Runyan For discussion The Stock Market and the Economy Forecasting the economy is big business. The Value of Information The Oil Wildcatter Revisited Imperfect Information 4 Figure A Perfect Seismic Test Figure An Imperfect Seismic Test Revising Probabilities Bayes’ Theorem Health Risks from Smoking Valueless Information A New Seismic Test Other Applications Predicting Credit Risks Business Behavior and Decision Pitfalls Example 1: Likely Occupations Example 2: 3 Boxes Example 3: Testing for Cancer Other Applications The Challenger Disaster and NASA’s Risk Analysis Figure The Winner’s Curse Figure Yacht Orders and the Stock Market | Chapter Thirteen The Value of Information The race isn’t always to the fastest nor the battle to the strongest, but that is the way you should bet. ~Damon Runyan For discussion The Stock Market and the Economy Forecasting the economy is big business. The Value of Information The Oil Wildcatter Revisited Imperfect Information 4 Figure A Perfect Seismic Test Figure An Imperfect Seismic Test Revising Probabilities Bayes’ Theorem Health Risks from Smoking Valueless Information A New Seismic Test Other Applications Predicting Credit Risks Business Behavior and Decision Pitfalls Example 1: Likely Occupations Example 2: 3 Boxes Example 3: Testing for Cancer Other Applications The Challenger Disaster and NASA’s Risk Analysis Figure The Winner’s Curse Figure Yacht Orders and the Stock Market
