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Davis, 1974

According to Gordon Davis (1974), "The value of information is the value of the change in decision behavior because of the information (less the cost of the information). An interesting aspect of this concept is that information has value only to those who have the background knowledge to use it in a decision. The most qualified person generally uses information most effectively but may need less information since experience (frame of reference) has already reduced uncertainty when compared with the less-experienced decision maker." (p. 180)

Davis, Gordon B., Management Information Systems: Conceptual Foundations, Structure, and Development. New York: McGraw-Hill, 1974.

appeared in DSS News, June 3, 2001, Vol. 2, No. 12