Optimal Information Collection Policies in a Markov Decision Process Framework.
Lauren E CiprianoJeremy D Goldhaber-FiebertShan LiuThomas A WeberPublished in: Medical decision making : an international journal of the Society for Medical Decision Making (2018)
The option to delay information collection until the information is sufficiently likely to influence decisions can increase efficiency. A dynamic programming framework enables an assessment of the marginal value of information and determines the optimal policy, including when and how much information to collect.