(Ebook) Value of Information in the Earth Sciences: Integrating Spatial Modeling and Decision Analysis by Jo Eidsvik, Tapan Mukerji, Debarun Bhattacharjya ISBN 9781107040267, 1107040264

(Ebook) Value of Information in the Earth Sciences: Integrating Spatial Modeling and Decision Analysis by Jo Eidsvik, Tapan Mukerji, Debarun Bhattacharjya ISBN 9781107040267, 1107040264

Gathering the right kind and the right amount of information is crucial for any decision-making process. This book presents a unified framework for assessing the value of potential data gathering schemes by integrating spatial modelling and decision analysis, with a focus on the Earth sciences. The authors discuss the value of imperfect versus perfect information, and the value of total versus partial information, where only subsets of the data are acquired. Concepts are illustrated using a suite of quantitative tools from decision analysis, such as decision trees and influence diagrams, as well as models for continuous and discrete dependent spatial variables, including Bayesian networks, Markov random fields, Gaussian processes, and multiple-point geostatistics. Unique in scope, this book is of interest to students, researchers and industry professionals in the Earth and environmental sciences, who use applied statistics and decision analysis techniques, and particularly to those working in petroleum, mining, and environmental geoscience.