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President and founder of Poser Global Market Strategies Inc. Elliott Wave Theory and provides strategies that a trader can put into action along with a complete explanation of how and why the Elliott Wave Theory works. Applying Elliott Wave Theory Profitably shows readers where to look for external clues, and how to use these to improve their trading performance. Motivation factors in crowdsourcing are often a mix of intrinsic and extrinsic factors. Although crowdsourcing complicated tasks can be difficult, simple work tasks can be crowdsourced cheaply and effectively. How boxoffice trading could flop. Crowdsourcing is increasingly used in professional journalism.


However, due to limited access to the Internet, participation in low developed countries is relatively low. An additional cause of the decrease in product quality that can result from crowdsourcing is the lack of collaboration tools. Researchers have used crowdsourcing systems like the Mechanical Turk to aid their research projects by crowdsourcing some aspects of the research process, such as data collection, parsing, and evaluation. The crowd is an umbrella term for the people who contribute to crowdsourcing efforts. Retrieved 30 June 2015. Tampa, FL: Culture Direct. These projects are usually not found on sites like Amazon Mechanical Turk, and are rather posted on platforms like Upwork that call for a specific expertise. For dictionary work, as was mentioned above, it was applied over a hundred years ago by the Oxford English Dictionary editors, using paper and postage.


The amounts collected have become quite high, with requests that are over a million dollars for software such as Trampoline Systems, which used it to finance the commercialization of their new software. They want to see new products before the public. June 2011, doi: 10. Retrieved 26 November 2014. Genealogical research was using crowdsourcing techniques long before personal computers were common. Retrieved April 29, 2013. The crowdsourced information and resolutions would then be passed on to legislators for them to refer to when making a decision, letting citizens more directly contribute to public policy. Extrinsic motivations are broken down into three categories: immediate payoffs, delayed payoffs, and social motivations. Since crowdworkers completing microtasks are paid per task, often a financial incentive causes workers to complete tasks quickly rather than well.


However, in crowdsourcing, crowdworkers are left to depend on their own knowledge and means to complete tasks. The American Society of Human Genetics. Energy system models require large and diverse datasets, increasingly so given the trend towards greater temporal and spatial resolution. Framework for Policy Crowdsourcing. Complex projects generally take the most time, have higher stakes, and call for people with very specific skills. Despite the multiplicity of definitions for crowdsourcing, one constant has been the broadcasting of problems to the public, and an open call for contributions to help solve the problem.


TalkingPointsMemo in the United States asked its readers to examine 3000 emails concerning the firing of federal prosecutors in 2008. Proceedings of the Workshop on Open Source and Design of Communication. Crowd Science: Measurements, Models, and Methods. Implicit crowdsourcing is less obvious because users do not necessarily know they are contributing, yet can still be very effective in completing certain tasks. Amazon Mechanical Turk workers collaborated with academics to create a platform, WeAreDynamo. Systematic Literature Review of Crowdsourcing Research from a Human Resource Management Perspective. Crowdsourcing information systems: a systems theory perspective. The likelihood that a crowdsourced project will fail due to lack of monetary motivation or too few participants increases over the course of the project.


Art curator Andrea Grover argues that individuals tend to be more open in crowdsourced projects because they are not being physically judged or scrutinized. Saints encouraged members to submit information about their ancestors. Though it is sometimes difficult to gather data about the demographics of the crowd, a study by Ross et al. Usually little information is known about the final desired product, and often very limited interaction with the final client occurs. Just as limiting, oftentimes the scenario is that just not enough skills or expertise exist in the crowd to successfully accomplish the desired task. Simple projects are those that require a large amount of time and skills compared to micro and macrowork. The International Achievement Institute. Olmsted wrote to readers, in a report subsequently picked up and pooled to newspapers nationwide. Mobile crowdsourcing involves activities that take place on smartphones or mobile platforms, frequently characterized by GPS technology.


Journalists crowdsource information from the crowd, typically fact check the information and then use it in their articles as they see fit. What is one thing we can do to make Acme a great company? Individuals, businesses, and entrepreneurs can showcase their businesses and projects to the entire world by creating a profile, which typically includes a short video introducing their project, a list of rewards per donation, and illustrations through images. As with other crowdsourcers, artists use crowdsourcing systems to generate and collect data. Bluetooth identities to a central server to track lost or stolen items. These responses helped him make a series of scientific breakthroughs, the major discovery being that meteor showers are seen nationwide, and fall from space under the influence of gravity. Microwork is a crowdsourcing platform where users do small tasks for which computers lack aptitude for low amounts of money.


Governments across the world are increasingly using crowdsourcing for knowledge discovery and civic engagement. Crowdsourcing is a specific sourcing model in which individuals or organizations use contributions from Internet users to obtain needed services or ideas. InnoCentive, of Waltham, MA and London, England provides access to millions of scientific and technical experts from around the world. Retrieved June 16, 2015. Avoiding the South Side and the Suburbs: The Geography of Mobile Crowdsourcing Markets. Retrieved July 10, 2013. Archived August 24, 2014, at the Wayback Machine.


The free stock imagery website allows the public to contribute to and receive commission for their contributions. Proverb collection is also being done via crowdsourcing on the Web, most innovatively for the Pashto language of Afghanistan and Pakistan. Participation in highly developed countries is similarly low, largely because the low amount of pay is not a strong motivation for most users in these countries. Proponents argue that crowdsourcing is beneficial because it allows niche ideas that would not survive venture capitalist or angel funding, many times the primary investors in startups, to be started. Tasks that are not completed quickly may be forgotten, buried by filters and search procedures so that workers do not see them. Eventually, Reddit members claimed to have found 4 bombers but all were innocent, including a college student who had committed suicide a few days before the bombing. Retrieved November 28, 2011.


Crowdfunding and Civic Society in Europe: A Profitable Partnership? French capital to document the architectural changes of Paris. Retrieved 17 September 2014. Archived November 29, 2014, at the Wayback Machine. Crowdsourcing can either take an explicit or an implicit route. This situation has been systematically denounced by IAPTI and other translator organizations. These people are often recruited from social networks, where the funds can be acquired from an equity purchase, loan, donation, or ordering.


The Mechanical Turk uses reputation as a motivator in a different sense, as a form of quality control. International Journal of Communication. After being awakened in a late November night due to a meteor shower taking place, Olmsted noticed a pattern in the shooting stars. Health Care Crowds: Collective Intelligence in Public Health. Transfer: European Review of Labour and Research. Explicit crowdsourcing lets users work together to evaluate, share, and build different specific tasks, while implicit crowdsourcing means that users solve a problem as a side effect of something else they are doing. Also, they demonstrated that the showers appeared in yearly cycles, a fact that often eluded scientists. It is ideal for scientific problem solving.


Institutes that have records of interest to genealogical research have used crowds of volunteers to create catalogs and indices to records. The popular forum website reddit came under the spotlight during the first few days after the events of the Boston Marathon bombing as it showed how powerful social media and crowdsourcing could be. The key distinguishing factors are that macrowork requires specialized skills and typically takes longer, while microwork requires no specialized skills. In an online atmosphere, more attention can be given to the specific needs of a project, rather than spending as much time in communication with other individuals. Europe the participants were predominantly higher educated women. Based on an elaborate survey of participants in a microtask crowdsourcing platform, Gadiraju et al. Retrieved 10 December 2014. However, having each task completed multiple times increases time and monetary costs. Intrinsic motivations included fulfilling civic duty, affecting the law for sociotropic reasons, to deliberate with and learn from peers. Crowdsource research also reaches to the field of agriculture. ESP game, where users guess what images are and then these labels are used to tag Google images.


Many scholars of crowdsourcing suggest that both intrinsic and extrinsic motivations cause people to contribute to crowdsourced tasks and these factors influence different types of contributors. Agrawal, Ajay, Christian Catalini, and Avi Goldfarb. Annual Hawaii International Conference on System Sciences. Immediate payoffs, through monetary payment, are the immediately received compensations given to those who complete tasks. Advantages of using crowdsourcing may include improved costs, speed, quality, flexibility, scalability, or diversity. With high risk and small target markets, the pool of crowdsourced projects faces a greater possible loss of money of capital, lower return, and lower levels of success. Patent and Trademark Office. However, Reddit soon came under fire after they started to crowdsource information on the possible perpetrators of the bombing.


Committee for the Future, Parliament of Finland. Another consequence of the multiple definitions is the controversy surrounding what kinds of activities that may be considered crowdsourcing. Instead of being forced to assess risks and convince large institutional investors why their project can be successful, wary investors can be replaced by others who are willing to take on the risk. American Journal of Science and Arts. Jeff Howe coined the term crowdsourcing in Wired. Cambridge, Massachusetts; London, England: The MIT Press. SLA Government Information Division.


Theoretical Model of User Engagement in Crowdsourcing. Mechanical Turk has created many different projects for users to participate in, where each task requires very little time and offers a very small amount in payment. Retrieved January 2, 2013. JustGiving established: This online platform allows the public to help raise money for charities. Crowdsourcing systems provide these researchers with the ability to gather large amount of data. In some cases, the contributor of the solution is compensated monetarily with prizes or with recognition. DARPA balloon experiment, where DARPA placed 10 balloon markers across the United States and challenged teams to compete to be the first to report the location of all the balloons. Journal of Developing Societies.


International Journal of Methods in Psychiatric Research. Retrieved May 19, 2013. Crowdsourcing strategies have been applied to estimate word knowledge and vocabulary size. Research has emerged that outlines the use of crowdsourcing techniques in the public health domain. Digital Library recruits volunteers to translate and review books. Crowdsourcing quality is also impacted by task design.


The Chinese versions of this, commonly called Witkey, are similar and include such sites as Taskcn. When Facebook began its localization program in 2008, it received criticism for using free labor in crowdsourcing the translation of site guidelines. One drawback, however, is that ranking algorithms are more difficult to understand than like counting. Federal Transit Administration grant. Comprehensive City Plan update in a process, which started in 2015. However, according to other research, workers on Amazon Mechanical Turk do not feel that they are exploited and are ready to participate in crowdsourcing activities in the future.


Crowdfunding has been used for both commercial and charitable purposes. Many ideas are killed in their infancy due to insufficient support and lack of capital, but crowdsourcing allows these ideas to be started if an entrepreneur can find a community to take interest in the project. Macrotasks could be part of specialized projects or could be part of a large, visible project where workers pitch in wherever they have the required skills. The first conference focusing on Crowdsourcing for Politics and Policy took place at Oxford University, under the auspices of the Oxford Internet Institute in 2014. Amazon Mechanical Turk to complete tasks for pay. Overall, the simplified access to capital can save time to start projects and potentially increase efficiency of projects. This method is simple and not difficult to understand, but it privileges early contributions, which have more time to accumulate likes. OCR corrections on digitized texts, for tagging and for funding.


Retrieved January 30, 2012. More than fun and money. However, of those who completed the task, quality of output did not depend on the framing of the task. To make an idea turn into a reality, the first component needed is capital. Crowdsourcing site InnoCentive allows organizations to solicit solutions to scientific and technological problems; only 10. An example of a Mechanical Turk project is when users searched satellite images for a boat to find lost researcher Jim Gray. Implicit crowdsourcing can take two forms: standalone and piggyback. Mataluna: 151 Afghan Pashto Proverbs.


These include the ability to offload peak demand, access cheap labor and information, generate better results, access a wider array of talent than might be present in one organization, and undertake problems that would have been too difficult to solve internally. In recent years several crowdsourcing companies have begun to use pairwise comparisons, backed by ranking algorithms. The winning team managed to locate three suspects by mobilizing volunteers worldwide using a similar incentive scheme to the one used in the balloon challenge. One of the problems of crowdsourcing products is the lack of interaction between the crowd and the client. Retrieved April 4, 2012. Mathematical Tables Project as an outreach project.


Furthermore, the company often provides employees with the necessary information, procedures, and tools to fulfill their responsibilities. Studies have also found that crowds are not simply collections of amateurs or hobbyists. Convergence: The International Journal of Research into New Media Technologies. Davis, Chris; Chmieliauskas, Alfredas; Dijkema, Gerard; Nikolic, Igor. Planter Peanuts logo contest. While an example of macrowork would be writing survey feedback, simple projects rather include activities like writing a basic line of code or programming a database, which both require a larger time commitment and skill level. The raw number of ideas that get funded and the quality of the ideas is a large controversy over the issue of crowdsourcing.


Another early example of crowdsourcing occurred in the field of ornithology. Genetic genealogy is a combination of traditional genealogy with genetics. Members of the public submit solutions that are then owned by the entity, which originally broadcast the problem. Thousands of people sent in entries before the government zeroed in on the final symbol based on the Devanagari script using the letter Ra. View of Crowdsourcing: Libertarian Panacea or Regulatory Nightmare? The French government proposed several of these competitions, often rewarded with Montyon Prizes, created for poor Frenchmen who had done virtuous acts. Retrieved March 30, 2012. India: Living Media India Limited. With explicit crowdsourcing, users can evaluate particular items like books or webpages, or share by posting products or items.


In recent years, citizen science projects have become increasingly focused providing benefits to scientific research. Crowdsourcing allows businesses to submit problems on which contributors can work, on topics such as science, manufacturing, biotech, and medicine, with monetary rewards for successful solutions. Academy of Management Review. The goal is to create a compelling message towards which readers will be drawn. Proceedings of the Hawaii International Conference on Systems Sciences 2015. Even when tasks are completed, crowdsourcing does not always produce quality results. Chapter 9 discusses in depth the initial development of Enipedia. Ranking algorithms do not penalize late contributions. These motivations include: skill variety, task identity, task autonomy, direct feedback from the job, and pastime.


Although this may not be an exhaustive list, the items cover the current major ways in which people use crowds to perform tasks. Artists have also used crowdsourcing systems. Journal of Geoscience Education. Reddit was able to help many victims of the bombing as they sent relief and some even opened up their homes, all being communicated very efficiently on their site. Software programs have been developed for crowdsourced dictionaries, such as WeSay. In this respect, crowdsourcing has been considered to encompass three separate, but stable techniques; competition crowdsourcing, virtual labor market crowdsourcing, and open collaboration crowdsourcing. Another popular use of implicit crowdsourcing is through reCAPTCHA, which asks people to solve CAPTCHAs to prove they are human, and then provides CAPTCHAs from old books that cannot be deciphered by computers, to digitize them for the web.


They connect to the greater purpose of the campaign, such as being a part of an entrepreneurial community and supporting an innovative idea or product. The bank executive was fired and policy changes followed. UK: Edward Elgar Publishing Ltd, Chap. Who are the Crowdworkers? Planters Peanuts contest: The Mr. Crowdsourcing allows those who would benefit from the project to fund and become a part of it, which is one way for small niche ideas get started. This leads to entrepreneurs losing possible experience convincing investors who are wary of potential risks in investing because they do not depend on one single investor for the survival of their project. Knowledge discovery and management is used for information management problems where an organization mobilizes a crowd to find and assemble information.


Delayed payoffs are benefits that can be used to generate future advantages, such as training skills and being noticed by potential employers. In other cases, the only rewards may be a kudos or intellectual satisfaction. The responses allowed him to suggest a velocity for the meteors, although his estimate turned out to be too conservative. Additionally, using crowdsourcing, researchers can collect data from populations and demographics they may not have had access to locally, but that improve the validity and value of their work. It is ideal for processing large data sets that computers cannot not difficult do. Quarterly journal of experimental psychology. This can decrease the quality of product because client interaction is a vital part of the design process. Another form of social motivation is prestige or status.


The effect of user communication and the platform presentation should be taken into account when evaluating the performance of ideas in crowdsourcing contexts. Using the Example of Microworkers. Crowdsourcing the Policy Cycle. Crowdsourcing may produce solutions from amateurs or volunteers working in their spare time or from experts or small businesses, which were previously unknown to the initiating organization. Internet connection at home. Crowdworkers are a nonrandom sample of the population. Kodak asked anyone to submit a picture of a personal victory.


This model is where people can prepurchase products, buy experiences, or simply donate. MindTrek 2007 Conference Proceedings. These factors lead to a bias in the population pool towards users in medium developed countries, as deemed by the human development index. Some examples of successful crowdsourcing themes are problems that bug people, things that make people feel good about themselves, projects that tap into niche knowledge of proud experts, subjects that people find sympathetic or any form of injustice. Crowdsourcing is a type of participative online activity in which an individual, an institution, a nonprofit organization, or company proposes to a group of individuals of varying knowledge, heterogeneity, and number, via a flexible open call, the voluntary undertaking of a task. Distributed human intelligence tasking is used for information management problems where an organization has a set of information in hand and mobilizes a crowd to process or analyze the information. Because crowdworkers are considered independent contractors rather than employees, they are not guaranteed minimum wage.


The Movie Research Experience gets audiences involved in filmmaking. Tag Challenge, funded by the US State Department, which required locating and photographing individuals in five cities in the US and Europe within 12 hours based only on a single photograph. The demographics of Microworkers. Using crowdsourcing can also help complete the work for projects that would normally have geographical and population size limitations. Citizen Science: Involving the Public in Research. Typically, no written contracts, nondisclosure agreements, or employee agreements are made with crowdworkers. The rise of personal DNA testing, after the turn of the century, by companies such as Gene by Gene, FTDNA, GeneTree, 23andMe, and Ancestry.


Enipedia went live in March 2011. Opponents of this issue argue easier access to capital through a large number of smaller investors can hurt the project and its creators. The project called birders from across North America to count and record the number of birds in each species they witnessed on Christmas Day. Judgment and Decision Making. It is ideal for creating collective resources. However, mobile crowdsourcing can lead to an urban bias, as well as safety and privacy concerns.


Collaboration between crowd members can also be difficult or even discouraged, especially in the context of competitive crowd sourcing. Frank and all the other rules and regulations involving public companies and the way they trade. Currently, a number of dictionary compilation projects are being conducted on the web, particularly for languages that are not highly academically documented, such as for the Oromo language. Ross suggests raises ethical questions for researchers who use crowdsourcing. In Collective Intelligence and Digital Archives: Towards Knowledge Ecosystems. Macrowork tasks typically have these characteristics: they can be done independently, they take a fixed amount of time, and they require special skills. Ranking algorithms have proven to be at least 10 times faster than manual stack ranking.


Rather, crowds are often professionally trained in a discipline relevant to a given crowdsourcing task and sometimes hold advanced degrees and many years of experience in the profession. Broadcast search is used for ideation problems where an organization mobilizes a crowd to come up with a solution to a problem that has an objective, provable right answer. Connections: the journal of the WEA Missions Committee October, pp. Retrieved 10 July 2013. These projects usually pay the highest, yet are rarely offered. Experiments on Crowdsourcing Policy Assessment. Concept from the Movie Industry. They connect to a physical aspect of the campaign like rewards and gains from investment.


In crowdsourced journalism, the motivation factors are intrinsic: the crowd is driven by a possibility to make social impact, contribute to social change and help their peers. In these cases, it may be difficult or even impossible to find the qualified people in the crowd, as their voices may be drowned out by consistent, but incorrect crowd members. Retrieved 28 February 2012. The British newspaper the Guardian crowdsourced the examination of hundreds of thousands of documents in 2009. Another example is the Netflix Prize in 2009. Claiming that crowds are amateurs, rather than professionals, is both factually untrue and may lead to marginalization of crowd labor rights. Retrieved 14 June 2014. Goldberg, Ken; Newsom, Gavin. Their platform, through geographic location anchoring, builds a virtual search party of smartphone and Internet users to find lost items, pets, or persons, as well as returning them.


Local Motors is another example of crowdsourcing. They also produce results faster. Olmsted wrote a brief report of this meteor shower in the local newspaper. Crowdsourcing public policy and the production of public services is also referred to as citizen sourcing. When Facebook began its localization program in 2008, it encountered some criticism for the low quality of its crowdsourced translations. Some Simple Economics of Crowdfunding. In this program, church members were asked to prepare documented family group record forms for the first three generations. Urban and transit planning are prime areas for crowdsourcing.


The project was successful, and the records from 27 different contributors were compiled into one bird census, which tallied around 90 species of birds. Papazoglou, Giannis; Gerth, Richard; Gonzalez, Richard; Papalambros, Panos. It is ideal for design, aesthetic, or policy problems. There are translation companies and several users of translations who pretend to use crowdsourcing as a means for drastically cutting costs, instead of hiring professional translators. Crowdsourcing was coined in 2005 as a portmanteau of crowd and outsourcing. Crowdsourcing in astronomy was used in the early 19th century by astronomer Denison Olmsted. Quantifying movie magic with Google search. DNA testing which uses crowdsourcing techniques. Retrieved February 26, 2012.


The submitted information was gathered together into a single collection. In response, there have been several initiatives to crowdsource this data. For example, susceptibility to faulty results is caused by targeted, malicious work efforts. The American Journal of Human Genetics. Journal of Applied Communication Research. Guth and Brabham found that the performance of ideas offered in crowdsourcing platforms are affected not only by their quality, but also by the communication among users about the ideas, and presentation in the platform itself. Crowdsourcing for Democracy: New Era in Policymaking. Participants access the CRC online and vote on six timely issues.


While much of its information is from US government sources, the platform also seeks crowdsourced input from around the world. The semantic wiki and database Enipedia also publishes energy systems data using the concept of crowdsourced open information. This system aims to effectively involve the greater public in relevant political discussions and highlight the specific topics with which Californians are most concerned. Crowdsourcing allows anyone to participate, allowing for many unqualified participants and resulting in large quantities of unusable contributions. Extrinsic motivations included changing the law for financial profit or other benefits. IT is always used to create and access crowds of people.


Volunteers can contribute to searching for signals that might come from extraterrestrial intelligence by installing a program that uses idle computer time for analyzing chunks of data recorded by radio telescopes involved in the SERENDIP program. The crucial prerequisite is the use of the open call format and the large network of potential laborers. Proceedings of the Seventeenth Americas Conference on Information Systems. Crowdsolving is a collaborative, yet holistic, way of solving a problem using many people, communities, groups, or resources. Launched in December 2009, OpenEI is a collaborative website, run by the US government, providing open energy data. Some common categories of crowdsourcing can be used effectively in the commercial world, including crowdvoting, crowdsolving, crowdfunding, microwork, creative crowdsourcing, crowdsource workforce management, and inducement prize contests. Critics say that crowdsourcing arrangements exploit individuals in the crowd, and a call has been made for crowds to organize for their labor rights. At the time, rules and regulations were being refined by the SEC, which had until January 1, 2013, to tweak the fundraising methods.


Many researchers use crowdsourcing to quickly and cheaply conduct studies with larger sample sizes than would be otherwise achievable. While the FBI received thousands of photos from average citizens, the website also started to focus on crowdsourcing their own investigation, with the information that they were crowdsourcing. Proverbial perspectives on pluralism. However, when the raw number of projects grows, the number of possible failures can also increase. United States have used crowdsourcing for several years. Depending on the scope and complexity of the crowdsourced project, the amount of necessary capital can range from a few thousand dollars to hundreds of thousands, if not more. The crowdsourcing process allows entrepreneurs to access to a wide range of investors who can take different stakes in the project. Mechanical Turk to make ends meet.


Using crowdsourcing through means such as Amazon Mechanical Turk can help provide researchers and requesters with an already established infrastructure for their projects, allowing them to not difficult use a crowd and access participants from a diverse culture background. Crowdsourcing has often been used in the past as a competition to discover a solution. Cola, Heineken, and Sam Adams have thus crowdsourced a new pizza, bottle design, beer, and song, respectively. Like many tasks solved using the Mechanical Turk, CAPTCHAs are simple for humans, but often very difficult for computers. Some researchers who have considered using Mechanical Turk to get participants for research studies have argued that the wage conditions might be unethical. Crowdfunding is the process of funding projects by a multitude of people contributing a small amount to attain a certain monetary goal, typically via the Internet. The SESH group focuses on using crowdsourcing to improve health. Under very general conditions on the utility functions of the agent, it is shown how to approach the above problem by considering separately the two, more elementary ones of maximizing utility from consumption only and of maximizing utility from terminal wealth only, and then appropriately composing them, The optimal consumption and wealth processes are obtained quite explicitly. The results of this analysis lead to an explicit computation of the portfolio that maximizes capital growth rate from investment, and to a precise expression for the maximal growth rate.


Some familiarity with stochastic analysis, including the fundamental martingale representation and Oirsanov theorems, is assumed. One kind of corporate optimal investment problem: Inflation case. Literature Review: Modelling Dynamic Portfolio method under Defaultable Assets with Stochastic Rate of Return, Rate of Inflation and Credit Spread Rate. Calculating risk neutral probabilities and optimal portfolio policies in a dynamic investment model with downside risk control. Notions and results from the theory of optimal stopping are employed in the treatment of American options. Simulation and optimization in marketing: Optimal control of consumer goodwill, price and investment.


OPTIMAL TRADING method WITH PARTIAL INFORMATION AND THE VALUE OF INFORMATION: THE SIMPLIFIED AND GENERALIZED MODELS.

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