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This special case is how expected value of perfect information and expected value of sample information are calculated where risk neutrality is implicitly assumed. For cases where the decision-maker is risk averse or risk seeking , this simple calculation does not necessarily yield the correct result, and iterative calculation is the only way ...
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Information goods are commodities that provide value to consumers as a result of the information it contains and refers to any good or service that can be digitalized. [1] Examples of information goods includes books, journals, computer software, music and videos. [2] Information goods can be copied, shared, resold or rented. [3]
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