This fee is called the expected value of perfect information (EVPI):
{"Image DocumentName": "This fee is called the expected value of perfect information (EVPI):", "Image ImageDescription": "What if, the newsvendor can purchase perfect information on the demand for his newspapers which would enable him to make better decisions? The question that we need to answer is: What is the largest fee the newsvendor should be willing to pay for this perfect information? This fee is called the expected value of perfect information (EVPI): EVPI = (expected return with new deal) \u2013 (expected return with current sequence of events) The EVPI gives an upper bound on the amount that you should be willing to pay for the perfect information.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}