Related papers: Adding Decision Problem Makes Information More Val…

Argumentation provides a representation of arguments and attacks between these arguments. Argumentation can be used to represent a reasoning process over evidence to reach conclusions. Within such a reasoning process, understanding the…

This paper argues that the principal difference between decision aids and most other types of information systems is the greater reliance of decision aids on fallible algorithms--algorithms that sometimes generate incorrect advice. It is…

Decisions in organizations are about evaluating alternatives and choosing the one that would best serve organizational goals. To the extent that the evaluation of alternatives could be formulated as a predictive task with appropriate…

What would you do if you were asked to "add" knowledge? Would you say that "one plus one knowledge" is two "knowledges"? Less than that? More? Or something in between? Adding knowledge sounds strange, but it brings to the forefront…

The influence of additional information on the decision making of agents, who are interacting members of a society, is analyzed within the mathematical framework based on the use of quantum probabilities. The introduction of social…

The form and justification of inductive inference rules depend strongly on the representation of uncertainty. This paper examines one generic representation, namely, incomplete information. The notion can be formalized by presuming that the…

There is little doubt in scientific circles that--counting from the origin of life towards today--evolution has led to an increase in the amount of information stored within the genomes of the biosphere. This trend of increasing information…

We present an anytime algorithm which computes policies for decision problems represented as multi-stage influence diagrams. Our algorithm constructs policies incrementally, starting from a policy which makes no use of the available…

We study the problem of determining what data is required to solve a decision-making task when only partial information about the state of the world is available. Focusing on linear programs, we introduce a decision-focused notion of data…

Controversy about the significance of underdetermination of theories persists in the philosophy and conduct of science. The issue has practical import when research is used to inform decision making, because scientific uncertainty yields…

In this paper the theory of semi-bounded rationality is proposed as an extension of the theory of bounded rationality. In particular, it is proposed that a decision making process involves two components and these are the correlation…

We present information value, a measure which quantifies the predictability of an utterance relative to a set of plausible alternatives. We introduce a method to obtain interpretable estimates of information value using neural text…

It is shown that in the case of a single decision maker who optimizes several possibly conflicting objectives, the amount of information available in preference relations among pairs of possible decisions, when compared with all other…

Advances in information technology reduce barriers to information propagation, but at the same time they also induce the information overload problem. For the making of various decisions, mere digestion of the relevant information has…

When an investor is faced with the option to purchase additional information regarding an asset price, how much should she pay? To address this question, we solve for the indifference price of information in a setting where a trader…

In games with incomplete and ambiguous information, rational behavior depends not only on fundamental ambiguity (ambiguity about states) but also on strategic ambiguity (ambiguity about others' actions), which further induces hierarchies of…

We study the algorithmic problem faced by an information holder (seller) who wants to optimally sell such information to a budged-constrained decision maker (buyer) that has to undertake some action. Differently from previous, we consider…

We consider the problem of decision-making with side information and unbounded loss functions. Inspired by probably approximately correct learning model, we use a slightly different model that incorporates the notion of side information in…

We show that the incorporation of any new piece of information allows for improved decision making in the sense that the expected costs of an optimal decision decrease (or, in boundary cases where no or not enough new information is…

In a real expert system, one may have unreliable, unconfident, conflicting estimates of the value for a particular parameter. It is important for decision making that the information present in this aggregate somehow find its way into use.…