In some cases, the Expected Value of Sample Information can exceed the Expected Value of Perfect Information.

Question

Quizplus · Accepted Answer

The Expected Value of Sample Information (EVSI) cannot exceed the Expected Value of Perfect Information (EVPI) because EVPI represents the maximum value that information could have, assuming it is completely accurate and removes all uncertainty, while EVSI is based on the value of information from an imperfect or partial sample, which cannot exceed the value derived from perfect information.

In Some Cases, the Expected Value of Sample Information Can