Concurrent users
Unlimited
Authorized users
Authorized users
Document Delivery Supplied
Can lend chapters, not whole ebooks
Title
Value of information and flexibility : making decisions under uncertainties / Martin J. Vilela, Gbenga F. Oluyemi.
ISBN
9783030869892 (electronic bk.)
303086989X (electronic bk.)
3030869881
9783030869885
Imprint
Cham, Switzerland : Springer, 2022.
Language
English
Description
1 online resource
Other Standard Identifiers
10.1007/978-3-030-86989-2 doi
Call Number
HD30.23
Dewey Decimal Classification
658.4/03
Summary
This book presents a consistent methodology for making decisions under uncertain conditions, as is almost always the case. Tools such as value of information and value of flexibility are explored as a means to make more complex and nuanced decisions. The book develops the complete formalism for assessing the value of acquiring information with two novel approaches. Firstly, it integrates the fuzzy characteristics of data, and secondly develops a methodology for assessing data acquisition actions that optimize the value of projects from a holistic perspective. The book also discusses the formalism for including flexibility in the project decision assessment. Practical examples of oil- and gas-related decision problems are included and discussed to facilitate the learning process. This book provides valuable advice and case studies applicable to engineers, researchers, and graduate students, particularly in the oil and gas industry and pharmaceutic industry.
Bibliography, etc. Note
Includes bibliographical references.
Access Note
Access limited to authorized users.
Digital File Characteristics
text file
PDF
Source of Description
Online resource; title from PDF title page (SpringerLink, viewed November 3, 2021).
Series
Petroleum engineering (Springer (Firm)), 2366-2654
Available in Other Form
Print version: 9783030869885
Chapter 1. Decision-making: Concepts, Principles, and Uncertainty
Chapter 2. Utility Theory
Chapter 3. Probability
Chapter 4. Probabilistic Evaluation of Uncertainties: Monte Carlo Method
Chapter 5. Assessing the Importance of the Uncertainties: Design of Experiments
Chapter 6. Fuzzy Logic
Chapter 7. Uncertainty, data acquisition and Value of Information
Chapter 8. The value of flexibility Real Options
Chapter 9. Case studies for the Value of Information and Flexibility in the oil and gas industry.