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dc.contributor.authorBakır, N. O.en_US
dc.contributor.authorKlutke, G-A.en_US
dc.date.accessioned2016-02-08T09:53:22Z
dc.date.available2016-02-08T09:53:22Z
dc.date.issued2011en_US
dc.identifier.issn0377-2217
dc.identifier.urihttp://hdl.handle.net/11693/21942
dc.description.abstractSeveral approaches have been proposed for evaluating information in expected utility theory. Among the most popular approaches are the expected utility increase, the selling price and the buying price. While the expected utility increase and the selling price always agree in ranking information alternatives, Hazen and Sounderpandian [11] have demonstrated that the buying price may not always agree with the other two. That is, in some cases, where the expected utility increase would value information A more highly than information B, the buying price may reverse these preferences. In this paper, we discuss the conditions under which all these approaches agree in a generic decision environment where the decision maker may choose to acquire arbitrary information bundles.en_US
dc.language.isoEnglishen_US
dc.source.titleEuropean Journal of Operational Researchen_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/j.ejor.2010.09.037en_US
dc.subjectUtility theoryen_US
dc.subjectPreference reversalsen_US
dc.subjectValue of informationen_US
dc.titleInformation and preference reversals in lotteriesen_US
dc.typeArticleen_US
dc.departmentDepartment of Industrial Engineering
dc.citation.spage752en_US
dc.citation.epage756en_US
dc.citation.volumeNumber210en_US
dc.citation.issueNumber3en_US
dc.identifier.doi10.1016/j.ejor.2010.09.037en_US
dc.publisherElsevieren_US
dc.identifier.eissn1872-6860


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