Learning Patterns, Decision Approach, and Value of Information.

The article reports on research which examined the relationship between information structures, decision making, and learning patterns of business enterprises. A set of controlled laboratory experiments were conducted in 1968 with the objective of generating empirical evidence as to the relation between information, information value, and decision. The empirical value of timely information was significantly greater than the expected theoretical value calculated according to the principles of information economics. Experts say a major problem in developing a theory of human problem solving is that there are different effects resulting from similar informational input streams due to what can be termed "structural variables" in the mental organization of the decision maker.