Value of information (VOI or VoI) is the amount a decision maker would be willing to pay for information prior to making a decision.
Read more about Value Of Information: Similar Terms, Characteristics, Computation, Free Will, Bibliography
Famous quotes containing the word information:
“The family circle has widened. The worldpool of information fathered by the electric media—movies, Telstar, flight—far surpasses any possible influence mom and dad can now bring to bear. Character no longer is shaped by only two earnest, fumbling experts. Now all the world’s a sage.”
—Marshall McLuhan (1911–1980)