Reliability and the value of information

@inproceedings{Koops2004ReliabilityAT,
  title={Reliability and the value of information},
  author={Marten a. Koops},
  year={2004}
}
When animals lack the ability to discriminate between correct and incorrect information, they must choose to either respond to or ignore an information source. I define the reliability of information as the probability that information is correct and introduce reliability into the value of information to explore the level of risk information consumers should incur when using information. I find that when information consumers do not control the reliability of information, they should be more… CONTINUE READING