A Closed-Form EVSI Expression for a Multinomial Data-Generating Process
Published Online:23 Nov 2022https://doi.org/10.1287/deca.2022.0462
References
- (1993) An improved Bayesian procedure for calculating sample sizes in multinomial sampling. Statistician 42(2):91–95.Crossref, Google Scholar
- (2004) Expected value of sample information calculations in medical decision modeling. Medical Decision Making 24(2):207–227.Crossref, Google Scholar
- (1980) Logistic-normal distributions: Some properties and uses. Biometrika 67(2):261–272.Crossref, Google Scholar
- (2013) The value of information in portfolio problems with dependent projects. Decision Anal. 10(4):341–351.Link, Google Scholar
- (2008) The relationship between perfect and imperfect information in a two-action risk-sensitive problem. Decision. Anal. 5(3):116–128.Link, Google Scholar
- (2009) Comparison of Bayesian sample size criteria: ACC, ALC, and WOC. J. Statist. Planning Inference 139(12):4111–4122.Crossref, Google Scholar
- (2008) Dynamic inventory management with learning about the demand distribution and substitution probability. Manufacturing Service Oper. Management 10(2):236–256.Link, Google Scholar
- (1997) Improved fashion buying with Bayesian updates. Oper. Res. 45(6):805–819.Link, Google Scholar
- (2001) Optimizing inventory replenishment of retail fashion products. Manufacturing Service Oper. Management 3(3):230–241.Link, Google Scholar
- (2015) An entropy-based methodology for valuation of demand uncertainty reduction. Decision Sci. 46(6):1165–1198.Crossref, Google Scholar
- (1992) On the effect of demand randomness on inventories and costs. Oper. Res. 40(4):804–807.Link, Google Scholar
- (2001) An adaptive, distribution-free algorithm for the newsvendor problem with censored demands, with applications to inventory and distribution. Management Sci. 47(8):1101–1112.Link, Google Scholar
- (2008) Return on investment for active learning. Proc. NIPS Workshop Cost-Sensitive Learn., vol. 72. https://scholar.google.com/scholar?hl=en&as_sdt=0%2C21&as_vis=1&q=return+on+investment+for+active+learning&btnG=&oq=Ret.Google Scholar
- (1981) The determinants of information value: Synthesizing some general results. Management Sci. 27(1):57–64.Link, Google Scholar
- (1970) Decision analysis: Perspectives on inference, decision, and experimentation. Proc. IEEE 58(5):632–643.Crossref, Google Scholar
- (2005) Maximum likelihood estimation of Dirichlet distribution parameters. CMU Technique Report. Accessed September 19, http://jonathan-huang.org/research/dirichlet/dirichlet.pdf.Google Scholar
- (2011) Adaptive data-driven inventory control with censored demand based on Kaplan-Meier estimator. Oper. Res. 59(4):929–941.Link, Google Scholar
- (2019) Value of information: Sensitivity analysis and research design in Bayesian evidence synthesis. J. Amer. Statist. Assoc. 114(528):1436–1449.Crossref, Google Scholar
- (2018) A Gaussian approximation approach for value of information analysis. Medical Decision Making 38(2):174–188.Crossref, Google Scholar
- (2004) Comparative static analysis of information value in a canonical decision problem. Engrg. Econom. 49(4):339–349.Crossref, Google Scholar
- (2005) Additivity of information value in two-act linear loss decisions with normal priors. Risk Anal. 25(2):351–359.Crossref, Google Scholar
- (2011) Retailer policy, uncertainty reduction, and supply chain performance. Internat. J. Production Econom. 132(2):271–278.Crossref, Google Scholar
- (2015) The data-driven newsvendor problem: New bounds and insights. Oper. Res. 63(6):1294–1306.Link, Google Scholar
- (2007) Provably near-optimal sampling-based policies for stochastic inventory control models. Math. Oper. Res. 32(4):821–839.Link, Google Scholar
- (1974) Numerical techniques for evaluating sample information. Technometrics 16(3):447–454.Crossref, Google Scholar
- (1997) The choice of sample size. Statistician 46(2):129–138.Crossref, Google Scholar
- (1985) The effect of risk aversion on the expected value of perfect information. Oper. Res. 33(2):455–458.Link, Google Scholar
- (1982) Some aspects of the distributional properties of the expected value of perfect information (EVPI). J. Oper. Res. Soc. 33(9):827–836.Crossref, Google Scholar
- (2005) Order quantity and timing flexibility in supply chains: The role of demand characteristics. Management Sci. 51(6):970–985.Link, Google Scholar
- (2008) Determining the effective sample size of a parametric prior. Biometrics 64(2):595–602.Crossref, Google Scholar
- (2021) Fully Bayesian human–machine data fusion for robust online dynamic target characterization. J. Aerospace Inform. Systems 18(2):26–49.Crossref, Google Scholar
- (1992) Sample size determination in Bayesian analysis. Statistician 41(4):389–397.Crossref, Google Scholar
- (2008) The early statistical years: 1947-1967. A conversation with Howard Raiffa. Statist. Sci. 23(1):136–149.Google Scholar
- (1961) Applied Statistical Decision Theory (MIT Press, Cambridge, MA).Google Scholar
- (2016) The newsvendor under demand ambiguity: Combining data with moment and tail information. Oper. Res. 64(1):167–185.Link, Google Scholar
- (2015) Estimating the expected value of sample information using the probabilistic sensitivity analysis sample: A fast, nonparametric regression-based method. Medical Decision Making 35(5):570–583.Crossref, Google Scholar
- (2021) Blockchain-enabled data sharing in supply chains: Model, operationalization, and tutorial. Production Oper. Management 30(7):1965–1985.Crossref, Google Scholar
- (2019) Optimal sample size determination based on Bayesian reliability and value of information. 13th Internat. Conf. Appl. Statist. Probab. Civil Engrg.Google Scholar
- (2009) Bayesian forecasting for low-count time series using state-space models: An empirical evaluation for inventory management. Internat. J. Production Econom. 118(1):95–103.Crossref, Google Scholar
- (2006) Expected value of distribution information for the newsvendor problem. Oper. Res. 54(6):1128–1136.Link, Google Scholar

