Value of Information: Exploring Behavioral and Social Factors

There is growing interest within and beyond the economics community in assessing value of information (VOI) used decision making. VOI assessments often do not consider complex behavioral social factors that affect perception, valuation, use by individuals groups. Additionally, frequently examine full suite interactions outcomes affecting different groups or individuals. The we mention are (but always) innately-derived, less-than-conscious influences reflect human societal adaptations to past. We first discuss these concepts context recognition for then find fifteen aspects pertinent assessments. methodologies issues related current estimation practices economics. Building on this examination, explore perceptions, factors, sharing, prioritization, discounting. Information valuation considered production, trading controls, communication pathologies. Lastly, describe relating useability actionability. Our examples geospatial information, more generally concern management natural resources, environments, anthropogenic hazards. paper aims be instrumentally relevant anyone interested science.