2026-09-21T00:27:02Z https://www.ideals.illinois.edu/oai-pmh

oai:www.ideals.illinois.edu:2142/42295 2023-07-11 col_2142_5131 col_2142_16359 com_2142_5130 com_2142_16358 com_2142_234

Abbas, Ali E. Abbas, Ali E. Pang, Jong-Shi Song, Renming Feng, Liming Sun, Zhengwei 2013-02-03T19:30:38Z 2013-02-03T19:30:38Z 2012-12 2013-02-03T19:30:38Z 2012-12 This thesis work analyzes the value of information in two-action decision problems with different settings and provides upper and lower bounds on the value of perfect information. The research shows that if two decision makers accept the lottery without the information, then the more risk averse decision maker will value the perfect information higher than the less risk averse one. Conversely, if two decision makers reject the lottery without the information, then the less risk averse decision maker will value the perfect information higher than the more risk averse one. Finally, if a decision maker feels indifferent between accepting and rejecting the lottery without the information, then he/she will value the perfect information higher than any other decision maker with a more or less risk aversion. The work reveals that different measures of risk aversion are corresponding to the different assumptions on the dependent structure between the initial wealth and the lottery. This thesis exhibits how the different lotteries change the effects of risk aversion on the value of perfect information. Finally, the research extends these results to the imperfect information on sets under some assumptions. Item withdrawn by Mark Zulauf (zulauf@illinois.edu) on 2012-11-12T21:22:32Z Item was in collections: University of Illinois Theses & Dissertations (ID: 1) No. of bitstreams: 2 dissertation_Zhengwei Sun.docx: 4456035 bytes, checksum: bea20905cbbb537ed0cb1b826f09ccb0 (MD5) Sun_Zhengwei.pdf: 2382913 bytes, checksum: cf7e420db2c1dee0229411359f1a24e8 (MD5) Made available in DSpace on 2013-02-03T19:30:38Z (GMT). No. of bitstreams: 3 Zhengwei_Sun.pdf: 2382913 bytes, checksum: cf7e420db2c1dee0229411359f1a24e8 (MD5) dissertation_Zhengwei Sun.docx: 4456035 bytes, checksum: bea20905cbbb537ed0cb1b826f09ccb0 (MD5) license.txt: 4059 bytes, checksum: e5b0b9aeae100d14785338b83b469b01 (MD5) http://hdl.handle.net/2142/42295 en Copyright 2012 Zhengwei Sun risk aversion value of information Ross's measure stochastic dominance Effects of risk aversion on value of information in two-action decision problems text Industrial&Enterprise Sys Eng 1422 Industrial Engineering 0127 University of Illinois at Urbana-Champaign Dissertation Ph.D. PHD:Industrial Enginerng -UIUC 10KS0127PHD