Value of Information in the Earth Sciences: Integrating Spatial Modeling and Decision Analysis
Jo Eidsvik, Norwegian University of Science and Technology;
Tapan Mukerji, Stanford University;
Debarun Bhattacharjya, IBM T. J. Watson Research Center
Cambridge University Press, 2015
ISBN: 978-1-107-04026-7;
Language: English
Value of Information in the Earth Sciences presents a unified framework for assessing the value of potential data gathering schemes by integrating spatial modeling and decision analysis, with a focus on the Earth sciences. The authors discuss the value of imperfect versus perfect information, and the value of total versus partial information, where only subsets of the data are acquired. Concepts are illustrated using a suite of quantitative tools from decision analysis, such as decision trees and influence diagrams, as well as models for continuous and discrete dependent spatial variables, including: Bayesian networks, Markov random fields, Gaussian processes, and multiple-point geostatistics. Unique in scope, this book is of interest to students, researchers and industry professionals in the Earth and environmental sciences, who use applied statistics and decision analysis techniques; the text is also beneficial to those working in petroleum, mining, and environmental geoscience.
Problem sets and projects with associated data and MATLAB code is available online.
