On a principle of choice among Bayes actions and its application for comparing experiments

The authors cnsider a decision problem having a family of potential experiments which the decision maker wishes to compare. This purpose is to be achieved by following an extensive-form analysis, in which they take all possible experimental outcomes, choosing for each one an optimal action, and then comparing all pairs of experiments on the basis of that choice. Both, the principle of choice among actions and the preference relation for comparing experiments, are founded on the well-known concept of ‘expected value of sample information’ and the new concept of ‘expected quietness of sample information’, determining a lexicographical preordering. The suitability of the preference relation above stated is proven by the study of its main properties and the contrast with other relations for the same purpose.