Value of Information in the Earth Sciences

Integrating Spatial Modeling and Decision Analysis

Jo Eidsvik, Tapan Mukerji, Debarun Bhattacharjya

• Publisher: Cambridge University Press
• Year: 2015
• Print ISBN: 9781107040267
• eBook ISBN: 9781316434963
• Topic: Technology & Engineering
• Subtopic: Chemical & Biochemical Engineering
• Index: Technology & Engineering

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.

Table of contents

• Cover
• Half-title
• Title page
• Copyright information
• Table of contents
• Preface
• Acknowledgments
• 1 Introduction
• 2 Statistical models and methods
• 3 Decision analysis
• 4 Spatial modeling
• 5 Value of information in spatial decision situations
• 6 Earth sciences applications
• 7 Problems and projects
• Appendix: selected statistical models and sampling methods
• References
• Index