I am trying to use the Value of Information concept using Bayesian Preposterior Analysis as proposed by Raiffa and Schlaifer 1961. However, due to certain limitations, mainly associated with the decision model, I am looking for alternate conceptions of quantifying the Value of Information.
Is there any alternate way of quantifying the value of information without tying it to a decision model itself?
For example, using Kullback Leibler divergence, the impact of the information on the prior and the posterior can be one such conception of the Value of information.
Any help would be appreciated.