Artificial Intelligence / Unit 7 AI 0361 short lesson, about 20 seconds
The Value of Information
Captions available
The idea
The value of learning a fact before deciding is the gain in expected utility from deciding after it arrives — and the most the fact is worth paying for.
In practice
Every sensor added, test ordered, and survey commissioned is — done honestly — this subtraction, performed before the purchase.
Where people slip
A fact that would not change the action is worth exactly zero, however interesting.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
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