On Metrics for Information Value Quantification
(2023) 14th International Workshop on Structural Health Monitoring: Designing SHM for Sustainability, Maintainability, and Reliability, IWSHM 2023 In Structural Health Monitoring 2023: Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring p.2468-2475- Abstract
In this paper, we aggregate, analyze, and exemplify several metrics for the information value. The metrics vary by absolute value, normalizations, or full probabilistic quantification. The normalization of the information value encompasses the division by (1) the expected and maximized utility of the base scenario (usually without additional information), (2) by the system performance, or (3) by the information acquirement costs. The latter can be aligned to the return over investment ratio to support and facilitate SHM system investment decision. With a case study on malevolent attacks to a generic iconic bridge, we exemplify the information value metrics and point to the application ranges and the implications of full distribution... (More)
In this paper, we aggregate, analyze, and exemplify several metrics for the information value. The metrics vary by absolute value, normalizations, or full probabilistic quantification. The normalization of the information value encompasses the division by (1) the expected and maximized utility of the base scenario (usually without additional information), (2) by the system performance, or (3) by the information acquirement costs. The latter can be aligned to the return over investment ratio to support and facilitate SHM system investment decision. With a case study on malevolent attacks to a generic iconic bridge, we exemplify the information value metrics and point to the application ranges and the implications of full distribution considerations.
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- author
- Thöns, Sebastian LU ; Chadha, Mayank ; Hu, Zhen and Todd, Michael D.
- organization
- publishing date
- 2023
- type
- Chapter in Book/Report/Conference proceeding
- publication status
- published
- subject
- host publication
- Structural Health Monitoring 2023 : Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring - Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring
- series title
- Structural Health Monitoring 2023: Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring
- editor
- Farhangdoust, Saman ; Guemes, Alfredo and Chang, Fu-Kuo
- pages
- 8 pages
- publisher
- DEStech Publications
- conference name
- 14th International Workshop on Structural Health Monitoring: Designing SHM for Sustainability, Maintainability, and Reliability, IWSHM 2023
- conference location
- Stanford, United States
- conference dates
- 2023-09-12 - 2023-09-14
- external identifiers
-
- scopus:85182278137
- ISBN
- 9781605956930
- DOI
- 10.12783/shm2023/37017
- language
- English
- LU publication?
- yes
- id
- 8a5d9d89-7591-4141-8b0e-dd8a5269e5e8
- date added to LUP
- 2024-02-16 13:52:29
- date last changed
- 2024-02-19 09:05:42
@inproceedings{8a5d9d89-7591-4141-8b0e-dd8a5269e5e8, abstract = {{<p>In this paper, we aggregate, analyze, and exemplify several metrics for the information value. The metrics vary by absolute value, normalizations, or full probabilistic quantification. The normalization of the information value encompasses the division by (1) the expected and maximized utility of the base scenario (usually without additional information), (2) by the system performance, or (3) by the information acquirement costs. The latter can be aligned to the return over investment ratio to support and facilitate SHM system investment decision. With a case study on malevolent attacks to a generic iconic bridge, we exemplify the information value metrics and point to the application ranges and the implications of full distribution considerations.</p>}}, author = {{Thöns, Sebastian and Chadha, Mayank and Hu, Zhen and Todd, Michael D.}}, booktitle = {{Structural Health Monitoring 2023 : Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring}}, editor = {{Farhangdoust, Saman and Guemes, Alfredo and Chang, Fu-Kuo}}, isbn = {{9781605956930}}, language = {{eng}}, pages = {{2468--2475}}, publisher = {{DEStech Publications}}, series = {{Structural Health Monitoring 2023: Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring}}, title = {{On Metrics for Information Value Quantification}}, url = {{http://dx.doi.org/10.12783/shm2023/37017}}, doi = {{10.12783/shm2023/37017}}, year = {{2023}}, }