The Value of Imperfect Information
By
Alegre, Inés
This set of exercises consists of two exercises, "Averías, S. A." and "Petróleos, S. A.," which show, (in a simple but at the same time practical and real) way, how to incorporate new information into the decision-making process. The two exercises raise probability problems to which the Bayes Theorem must be applied.
¿Averías S.A.¿ is inspired by the ¿Bayes¿ case by Steven Lippman. ¿Petróleos S.A.¿ is based on the case of the same name by Professor Pere Agell.
Collection: IESE (España)
Ref: ADE-37-E
Format: PDF
Number of pages: 2
Publication Date: Apr 27, 2018
Language: English, Spanish
Description
This set of exercises consists of two exercises, "Averías, S. A." and "Petróleos, S. A.," which show, (in a simple but at the same time practical and real) way, how to incorporate new information into the decision-making process. The two exercises raise probability problems to which the Bayes Theorem must be applied.
¿Averías S.A.¿ is inspired by the ¿Bayes¿ case by Steven Lippman. ¿Petróleos S.A.¿ is based on the case of the same name by Professor Pere Agell.
Read more
Learning Objective
Both exercises are usually used together in a 75-minute session on updating information.
Leave your rating
"The Value of Imperfect Information"
Register for free with IESE Publishing and enjoy all the advantages
What type of account do you want to create?
Choose account type
Professors
Academic Institutions
Companies
Individuals