Decision Analysis 2: EMV & EVPI – Expected Value & Perfect Information

In this tutorial, we discuss Decision Making With Probabilities (Decision Making under Risk).
We calculate Expected Monetary Value (EMV) and Expected Value of Perfect Information (EVPI).

Other videos:

Decision Analysis 1: Maximax, Maximin, Minimax Regret

Decision Analysis 2: Equally Likely (Laplace) and Realism (Hurwicz)

Decision Analysis 4: Decision Trees 1

Decision Analysis 5: EVSI – Expected Value of Sample Information

Post time: 09-03-2017