This paper establishes an economic theory of information value and volume that differs from Shannon's mathematical … theory of communication (Shannon, 1948). The economics of information should be recognized as an important frontier field of …

Environmental managers face substantial uncertainty when deciding on management actions. To reduce this uncertainty …-world monitoring data, we calculate the VoI of monitoring nitrogen, which is used as an indicator of the ecological state of water body … on the management cost, the assumed value of a good state and on the level of uncertainty regarding the ecological state …

degree of uncertainty about the consumption value, the purchasing frequency, and expected future market prices affect both …