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| Author: | Lawrence, D. B. |
| Title: | Models for the assessment of the value of forecast information |
| Journal: | Journal of Forecasting
1991 : JUL, VOL. 10:4, p. 425-443 |
| Index terms: | FORECASTING TECHNIQUES INFORMATION MODELS EVALUATION |
| Language: | eng |
| Abstract: | Alternative approaches and models for the assessment of the value of information are reviewed, extended and applied. The value of forecast information leads to the possible framing but still allows for flexible application. The models concentrate primarily on the factors influencing the tractability of assessment and interpretation in specific decision problems. An empirical illustration of the models is a valuation analysis of the published judgemental price forecasts of a veteran analyst of the hog market to a perfectly competitive farm enterprise. Some conclusions are drawn and evaluated. |
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