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The Potential Value of Information and Data
Working Group at Santa Fe Institute
April 2-3, 2024
Ìý
Meeting Summary
This Working Group focused on assessing the potential value of information and data in complex systems, utilizing information theory and information-theoretic inference. Key questions addressed include:
- Can information theory be used for developing new tools for evaluating the full potential, and potential value, of datasets and the information stored in these data?
- How, if possible, can information theory be extended to account for the information embedded in the data?
- Should the potential value measure be independent of the inferential approach used?
- How can we measure the value or potential value of a model, considering the information required for its construction?
The Working Group discussed the relative concept of value, emphasizing recent interest in the philosophy of information and its impact on real-world applications.ÌýTheoretical advances in these directions will have a substantial impact on a wide range of real-world applications. Methodological and technical advances will assist policy and decision makers, and will have a direct impact on private and public agencies that produce data for public and private use and research. For scientists the formulation of such a (relative) potential value will provide an additional tool to evaluate the information used — and needed — in modeling and inference.Ìý
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Organizers
Amos Golan, Info-Metris and Economics, Â鶹ÊÓƵ and SFI (External)
, Ecosystem Sciences, ERG/ESPMUC Berkeley and SFI (External)
, Department of Engineering Science, U Oxford (Fellow, Pembroke College)
Participants
- (co-organizer)
- Amos Golan (co-organizer)
- (co-organizer)
- (Wojtek)