(springerlink.com): Experiments performed over spatially correlated domains, if poorly chosen, may not be worth their cost of acquisition. In this paper, we integrate the decision-analytic notion of value of information with spatial statistical models. We formulate methods to evaluate monetary values associated with experiments performed in the spatial decision making context, including the prior value, the value of perfect information, and the value of the experiment, providing imperfect information.
Category: Articles
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