The expected value of perfect information (EVPI) is the difference between the expected payoff with perfect information (EPPI) and the expected monetary value (EMV*). That is,
EVPI = EPPI - EMV*.

Name: The expected value of perfect information (EVPI) is the difference between the expected payoff with perfect information (EPPI) and the expected monetary value (EMV*). That is, EVPI = EPPI - EMV*.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

This is the correct formula for calculating the expected value of perfect information.

The Expected Value of Perfect Information (EVPI) Is the Difference