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  • 1
    Electronic Resource
    Electronic Resource
    RISK AND THE VALUE OF INFORMATION IN IRREVERSIBLE DECISIONS (1997)
    Springer
    Theory and decision 42 (1997), S. 37-51 
    Details
    ISSN: 1573-7187
    Keywords: Irreversibility ; flexibility ; value of information ; risk
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract The analysis of the nexus between the value of information and risk is examined for sequential decisions with different degrees of future commitment, as e.g. environmental decisions. We find that in the linear case a riskier environment in general will increase the value of information. This result will be extended in the separable case to decreasing and increasing stochastic returns to scale. An example shows the ambiguity in the general case.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1004911026088
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