Value of Information

The Faculty of Business Administration and Economics at the Bielefeld University formed a research cooperation with the University of Oldenburg and the Helmholtz-Institute for Functional Marine Biodiversity at the University of Oldenburg (HIFMB).

In their joint research project “Value of Information” (VoI), the competencies of Bielefeld University in economics, notably in modelling and data sciences, are combined with the competencies of the University of Oldenburg, specifically those of the Institute for Chemistry and Biology of the Marine Environment (ICBM) and the HIFMB, in the area of ecology, ecosystem management and marine conservation.

The cooperation starts in January 2021 with the joint research project “Value of Information” (VoI). This interdisciplinary project combines the strengths of all parties and allows for a close collaboration and interaction. Central to the project is the question of the value of (additional) information and its consequences for optimal decision-making in the context of sustainability, biodiversity, and nature conservation policies. The project is led by PD Dr. Thorsten Upmann.