ON MEASURING THE VALUE OF INFORMATION, WITH IMPLICATIONS FOR COMMUNICATIONS SYSTEMS,

Abstract

The value of information is defined as the reduction in risk which results from using the information in decisions. Information is considered as being of two basic types: experience and intelligence (data). A schema for attaching quantitative measures to these concepts, within the framework of Statistical Decision Theory, is proposed. The resulting model is shown to be compatible with a number of intuitive concepts as to the proper behavior of value in this context. Applications to the design and evaluation of communications systems are considered. (Author)

Document Details

Document Type
Technical Report
Publication Date
Jan 01, 1965
Accession Number
AD0624785

Entities

People

  • Aubrey H. Payne

Tags

DTIC Thesaurus Topics

  • Computing-Related Activities
  • Data Science
  • Decision Theory
  • Information Science
  • Interdisciplinary Science
  • Mathematical Analysis
  • Statistical Decision Theory
  • Test And Evaluation

Readers

  • Database Systems and Applications
  • Systems Analysis and Design