Abstract
This paper approaches the value of meteorological information from the
perspectives of value engineering, pricing or valuation techniques and
information economics. The value of information can be looked at from at
least two angles: the value of information to the decision maker and
the value of information realized through the impact occurring as a
result actions and decisions based on information. The value of
information is not a singular, uniform concept. It consists of multiple
attributes weighed in different ways by different actors who evaluate
information according to their own particular preferences. When
designing information value chains the value build‐up and relative
importance of different attributes in different sections of the chain
cannot be neglected. There are multiple methods and techniques for
measuring the value, but these must be applied with care, being aware of
the relevant attributes and in which part of the information value
chain the measurement takes place. With the valuation tools described in
this paper, the valuation problem can be clarified and appropriate
methods selected.
Original language | English |
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Pages (from-to) | 315-323 |
Number of pages | 9 |
Journal | Meteorological Applications |
Volume | 16 |
Issue number | 3 |
DOIs | |
Publication status | Published - 2009 |
MoE publication type | A1 Journal article-refereed |
Keywords
- value
- valuation
- methods
- information