文章基本信息

标题：The role of anticipated emotions and the value of information in determining sequential search incentives
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作者：Debora Di Caprio ; Francisco J. Santos-Arteaga ; Madjid Tavana 等
期刊名称：Operations Research Perspectives
印刷版ISSN：2214-7160
电子版ISSN：2214-7160
出版年度：2019
卷号：6
页码：1-17
DOI：10.1016/j.orp.2019.100106
语种：English
出版社：Elsevier
摘要：Highlights•Our information acquisition model accounts for positive and negative anticipated emotions.•The model focuses on the value of information within a forward-looking sequential scenario.•Information verifies the optimality of potential decisions and prevents regrettable ones.•The verification and regret values of information can be assigned different importance.•The domains of the characteristics defining the alternatives affect the retrieval incentives.AbstractWe define a novel information acquisition model that accounts explicitly for the influence of positive and negative anticipated emotions in the evaluation and selection incentives of decision makers (DMs). The model focuses on the value assigned by the DMs to the information being acquired and its capacity to prevent regrettable decisions within a forward-looking sequential environment. We introduce a novel definition of value of information accounting for the two main uses that DMs can derive from it, namely, verifying the optimality or suboptimality of a potential decision and preventing the regret that may arise from a suboptimal decision. In particular, DMs would regret a decision whenever rejecting [accepting] an alternative that should have actually been accepted [rejected]. Our formal information acquisition model allows to account for the subjective relative importance assigned by the DMs to the verification and regret value of information. Moreover, we illustrate how the incentives defining the sequential information retrieval process of DMs are determined by the relative width of the domains on which the different characteristics describing the alternatives are defined.Graphical abstractDisplay Omitted
关键词：KeywordsInformation acquisitionAnticipated emotionsRegretValue of informationCertainty equivalent