2022
DOI: 10.3389/fenvs.2022.805214
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Value of Information and Decision Pathways: Concepts and Case Studies

Abstract: Information used in decision making arises from the structuring of observations and data. The collection, dissemination, and use of information has monetary and non-monetary costs (e.g., competition for attention) and necessitates trade-offs. Understanding the benefits of having information (i.e., the value of information, VOI), including resulting societal outcomes, is useful to information producers/funders and decision makers. Using theory, use cases, and hypotheticals, we describe how information (e.g., ge… Show more

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Cited by 5 publications
(1 citation statement)
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“…Norms and values drive how political decisions are made: they tend to reflect the priorities, prevalent beliefs, and values of stakeholder communities and of their representatives (Akerlof, 1997;Elster, 1989). BBHV and human and social factors also affect how information is perceived, valued, communicated, and often manipulated (or gamed) during decision-making processes, and also in the construction and application of models (Glynn et al, 2022a(Glynn et al, , 2022b. Lastly, decisionmaking, participatory modeling processes, and model construction and applications rarely, if ever, fully acknowledge the sources of knowledge that they involve (often innately), or even more so the knowledge gaps, oversimplifications, and knowledge fragmentation that is more consciously being applied (Sterman, 2012).…”
Section: Literature Reviewmentioning
confidence: 99%
“…Norms and values drive how political decisions are made: they tend to reflect the priorities, prevalent beliefs, and values of stakeholder communities and of their representatives (Akerlof, 1997;Elster, 1989). BBHV and human and social factors also affect how information is perceived, valued, communicated, and often manipulated (or gamed) during decision-making processes, and also in the construction and application of models (Glynn et al, 2022a(Glynn et al, , 2022b. Lastly, decisionmaking, participatory modeling processes, and model construction and applications rarely, if ever, fully acknowledge the sources of knowledge that they involve (often innately), or even more so the knowledge gaps, oversimplifications, and knowledge fragmentation that is more consciously being applied (Sterman, 2012).…”
Section: Literature Reviewmentioning
confidence: 99%