Before revision: Characteristics There are four extremely important characteristics of VoI that always hold for any decision situation: The value of information can never be less than zero since the decision-maker can always ignore the additional information and make a decision as if such information is not available.
After revision: Characteristics There are four characteristics of VoI that always hold for any decision situation: The value of information can never be less than zero since the decision-maker can always ignore the additional information and make a decision as if such information is not available.