S-Space College of Business Administration/Business School (경영대학/대학원) Institute of Information and Operation Management (경영정보연구소) Journal of information and operations management (경영정보논총) Journal of information and operations management vol.05 (1995) (경영정보논총)
- Issue Date
- 서울대학교 경영정보연구소
- Journal of information and operations management, Vol.05, pp. 139-157
- In this paper, we study the value of information in the traffic flow When we know the number of cars planning to use a road and/or the number of cars currently using the road, we can take another route to our destination and thus save our time depending on the situation. In deriving the value of information, we basically use the equilibrium concept in game theory. For some typical cases, we calculate the values added when we have the adequate information. And then the value of information should be compared with the cost for investing the facility which offers the information.