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SIMULATION OF INFORMATION CHOICE

SIMULATION OF INFORMATION CHOICE ABSTRACT Beginning with the information economics framework and a multi‐period decision model (15), this paper considers the use of computer simulation methods within an information system choice environment. Actual decision behavior is replaced by optimal decision rules, and simulation is used to evaluate the effects of parameter changes in the environmental model. Simulation is shown to be functional (1) in estimating the value of alternative information structures within a fifteen period decision model and (2) in providing sensitivity and statistical data which would be useful both for different decision maker utility functions and for a variety of information system design questions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Decision Sciences Wiley

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References (14)

Publisher
Wiley
Copyright
Copyright © 1976 Wiley Subscription Services, Inc., A Wiley Company
ISSN
0011-7315
eISSN
1540-5915
DOI
10.1111/j.1540-5915.1976.tb00672.x
Publisher site
See Article on Publisher Site

Abstract

ABSTRACT Beginning with the information economics framework and a multi‐period decision model (15), this paper considers the use of computer simulation methods within an information system choice environment. Actual decision behavior is replaced by optimal decision rules, and simulation is used to evaluate the effects of parameter changes in the environmental model. Simulation is shown to be functional (1) in estimating the value of alternative information structures within a fifteen period decision model and (2) in providing sensitivity and statistical data which would be useful both for different decision maker utility functions and for a variety of information system design questions.

Journal

Decision SciencesWiley

Published: Apr 1, 1976

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