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Bayesian Decision Analysis
Quantifying the Expected Value of Information
TLDR We sometimes have the option to purchase additional information (like paying for an experiment to be performed, or for a report from an expert consultant) to help us in problems of decision making under uncertainty.
Inspection Planning of Hazardous Locations Using a Value of Information Analysis
Extension of Bayesian decision theoretic framework to account for risk of inspection activities in quantifying the expected value of information.