The expected value of perfect information (EVPI)is the difference between the expected payoff with perfect information (EPPI)and the expected monetary value (EMV^*).That is,EVPI = EPPI − EMV^*.

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This statement is correct. The EVPI is calculated as the difference between the expected payoff with perfect information (EPPI) and the expected monetary value of the decision without perfect information (EMV^*).

The Expected Value of Perfect Information (EVPI)is the Difference Between