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Expected Value of Perfect Information: An Empirical Example of Reducing Decision Uncertainty by Conducting Additional Research

Expectation FormationCognitive ScienceBehavioral Decision MakingConducting Additional ResearchBiasInformation EconomicsManagementExperimental EconomicsInformation QualityDecision AnalysisPerfect InformationInformation ManagementDecision UncertaintyDecision ScienceDecision TheoryStatisticsSocial SciencesBehavioral Economics