If the expected value of perfect information is 0, which of the following is true? A) The expected value of imperfect information is less than 0 B) The result of learning the information has no chance of changing the preferred alternative C) The information has no effect on expected payoffs D) None of the above
If the expected value of perfect information is 0, which of the following is true? A) The expected value of imperfect information is less than 0 B) The result of learning the information has no chance of changing the preferred alternative C) The information has no effect on expected payoffs D) None of the above
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section: Chapter Questions
Problem 37P
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If the expected value of perfect information is 0, which of the following is true?
A) The expected value of imperfect information is less than 0
B) The result of learning the information has no chance of changing the preferred alternative
C) The information has no effect on expected payoffs
D) None of the above
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