by Eric Bickel, Richard L. Gibson, Duane A. McVay, Stephen Pickering, and John Waggoner
In this paper [$], Professor Eric Bickel and his co-authors demonstrate how decision analysis methods can be used to place a value of gathering information before it is acquired. In this case, the specific application is the acquisition of seismic information for oil & gas development. This work was awarded the 2006 Decision Analysis Practice Award by the Decision Analysis Society.
Published in 2006 in SPE Reservoir Evaluation & Engineering. The summary is free and the article is available for purchase at this link.