Dear colleagues:
You are invited to DAS-SDP joint Webinar, which features Dr. Michael C. Runge, a senior scientist and research ecologist at the U.S. Geological Survey's Eastern Ecological Science Center at the Patuxent Research Refuge.
The value of information is a central concept in decision analysis, used to quantify how much the expected outcome of a decision would be improved if epistemic uncertainty could be resolved prior to committing to a course of action. One of the challenges, however, in quantitative analysis of the value of information is that the calculations are demanding, especially in requiring predictions of outcomes as a function of alternative actions and sources of uncertainty. But the concept of value of information is important in early framing of some decisions, before such predictive tools are available. In this presentation, I will describe a constructed measure of the value of information (CVOI), grounded in the algebra of the expected value of perfect information (EVPI), but requiring less of experts and analysts. The CVOI calculation decomposes EVPI into a contribution representing the relevance of the uncertainty to the decision and a contribution representing the magnitude of uncertainty; constructed scales are then proposed for each contribution. I will show some examples of the use of CVOI in natural resource management, discuss some of the subtleties of implementation, and close with some open questions.
This event will take place virtually on Wednesday, October 16th, 8AM PT / 11AM ET / 5PM CET. Please find below the link to register your name and email address.
https://us06web.zoom.us/webinar/register/WN_D1Y0pCLsSFaZPlVcmBx9sg#/registration
After registering, you will receive a confirmation email containing a calendar link and the ZOOM link to join the meeting.
You can find more information about our webinar series in the link below and register there also.
https://connect.informs.org/das/events/webinars
We look forward to seeing you there!
Kind regards,
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Onesun Yoo
Professor
University College London
London
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