Article ID: | iaor199946 |
Country: | Netherlands |
Volume: | 92 |
Issue: | 3 |
Start Page Number: | 615 |
End Page Number: | 627 |
Publication Date: | Aug 1996 |
Journal: | European Journal of Operational Research |
Authors: | Ronen Boaz, Carmi Nava |
Keywords: | quality & reliability |
The information-structures model is one of the fundamental models of information economics and the theory of information systems. It provides a theoretical framework for assessing the normative value of information. This paper applies the information-structures model to quality control attribute sampling, by analyzing a real life situation in the Postal Authority. The paper demonstrates how decision makers can assess the value of information of surveys, their cost effectiveness, and the value of information of a second survey.