And when applying/calculating VoI, allow for the opportunity cost of harvesting information. A truth might have positive VoI in itself, but its effective net VoI might be negative if reaching that truth eats up one’s time, money, attention, effort, or other resources.
And when applying/calculating VoI, allow for the opportunity cost of harvesting information. A truth might have positive VoI in itself, but its effective net VoI might be negative if reaching that truth eats up one’s time, money, attention, effort, or other resources.