Payoff and Information Value Workbench

How to use Payoff and Information Value Workbench

Rows are actions and columns are states. Probabilities must total exactly one. Expected values weight each row; perfect information chooses a state-specific best outcome. Their difference gives nonnegative EVPI under the selected payoff or cost convention.

1. Enter outcome matrix json (actions by states), state probabilities json.
2. Choose the stated convention and check the units and supported model.
3. Calculate, inspect the result, then copy or download it.

Good to know

• Exact-grid inputs use plain decimals with at most six decimal places and magnitude at most1e9. JSON numeric inputs use their stored decimal spelling; quote decimals when their exact entered spelling matters. No input is evaluated as code. Up to30 actions and30 states; probabilities use at most six decimals and must sum exactly to1. Outcomes share one unit. This is a risk-neutral arithmetic model without utilities, uncertain probabilities, research cost, live data or a recommendation to choose an action. Exact fractions are kept in the download.
• Runs locally without input persistence. Text/JSON fields have a30000-character cap unless a stricter page limit applies; output has a1000000-character cap. Exact-grid workflows preserve six-decimal arithmetic, while approximate workflows use finite floating-point values. JSON downloads retain complete stored numeric values and exact fractions where provided. Unsupported formats and detected numeric or work-budget excess return an error or a clearly unresolved classification.
• Educational user-assumption arithmetic only. No live prices, laws, tax rules, quotes or financial advice.