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VALUE OF INFORMATION FOR ENVIRONMENTAL POLICY RESEARCH
by
Mayank Mohan
A Dissertation Presented to the
FACULTY OF THE GRADUATE SCHOOL
UNIVERSITY OF SOUTHERN CALIFORNIA
In Partial Fulfillment of the
Requirements for the Degree
DOCTOR OF PHILOSOPHY
(INDUSTRIAL AND SYSTEMS ENGINEERING)
August 2009
Copyright 2009 Mayank Mohan
Object Description
| Title | Value of information for environmental policy research |
| Author | Mohan, Mayank |
| Author email | mayank.mohan@gmail.com; mmohan@usc.edu |
| Degree | Doctor of Philosophy |
| Document type | Dissertation |
| Degree program | Industrial & Systems Engineering |
| School | Viterbi School of Engineering |
| Date defended/completed | 2009-05-11 |
| Date submitted | 2009 |
| Restricted until | Unrestricted |
| Date published | 2009-08-03 |
| Advisor (committee chair) | von Winterfeldt, Detlof |
| Advisor (committee member) |
Moore, James E., II John, Richard |
| Abstract | The standard value of information (VOI) model is used for measuring the expected value of new information based on its impact on the knowledge about uncertainties of future events. The standard framework is a powerful tool for use in making decisions about investments in such information gathering efforts. The framework provides a strong result, that, information is valuable only if it changes the pre-information decision. Further, this model is useful for situations where a single decision maker decides on the whether to buy new information and decides on the downstream decisions (decisions which are affected by the said information).; However, there are situations where the agency deciding to buy information and the agency making downstream decisions are different. In such scenarios, the agency choosing whether to invest in information collection cannot obtain an estimate of the value of such information using the standard value of information model.; The objective of this thesis is to develop a methodology for calculating the value of information for this two agency problem as described in the preceding paragraph.; We modify the standard value of information model by considering the downstream decisions by second agency as events. Some contrasts between the standard value of information and the proposed framework are drawn. The proposed framework is also compared to the value of control model. Our results indicate that although the expected value of information from our framework may be negative, it is positive under some relatively mild conditions.; We then provide examples of application of the proposed framework to a broad range of policy oriented environmental research. We conclude with a section on factors which may affect relevant probability estimates. |
| Keyword | value of information; environmental research; value of non solicited research |
| Language | English |
| Part of collection | University of Southern California dissertations and theses |
| Publisher (of the original version) | University of Southern California |
| Place of publication (of the original version) | Los Angeles, California |
| Publisher (of the digital version) | University of Southern California. Libraries |
| Provenance | Electronically uploaded by the author |
| Type | texts |
| Legacy record ID | usctheses-m2459 |
| Rights | Mohan, Mayank |
| Repository name | Libraries, University of Southern California |
| Repository address | Los Angeles, California |
| Repository email | http://www.usc.edu/isd/libraries/services/ask_a_librarian/email/ |
| Filename | etd-Mohan-3001 |
| Archival file | uscthesesreloadpub_Volume14/etd-Mohan-3001.pdf |
Description
| Title | Page 1 |
| Full text | VALUE OF INFORMATION FOR ENVIRONMENTAL POLICY RESEARCH by Mayank Mohan A Dissertation Presented to the FACULTY OF THE GRADUATE SCHOOL UNIVERSITY OF SOUTHERN CALIFORNIA In Partial Fulfillment of the Requirements for the Degree DOCTOR OF PHILOSOPHY (INDUSTRIAL AND SYSTEMS ENGINEERING) August 2009 Copyright 2009 Mayank Mohan |
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