Value of eliminating uncertainty bearing on ride-sharing options: a notional analysis

The value of information is the difference in expected value of a decision with and without the pertinent information. This value acts as a limit on how much can be garnered from any information outcome, and will be much higher than any study can reasonably be expected to supply. The uncertainties evaluated for policy options dealing with ride-sharing are: relative utility by mode, consumer weights, geographic pattern, institutional pattern, consumer adoption, and cost-effectiveness. A detailed evaluation of each option is made after discussing the method of calculating the value of perfect information. The example deals with whether to supply 10 or 20 buses to a specific route. (MCW)