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Is It Worth the Cost?
Alice wants to find out more about this guy Bob she is supposed to
meet again in half an hour. With the few bits of information she
has, she tries an internet search. The first page of returns does
not yield much ...
Nor does the second. Should she try a third? The
problem is: If she continues searching, she may lose track of time.
Would the chance of learning more warrant the cost of being late?
No, Alice decides, and runs for the bus.
Was it worth the effort? You may find the answer in Chapter 6 of
Information Economics.