Analyzing the effect of side information: a perturbative approach

Quite often we need to make decisions. These decisions will typically depend on some information that we have obtained, either through direct observation or because it has been communicated to us by someone (or something) else. This side information is not usually perfect. For example, our measurements will not be without error and information communicated to us will be subject to imperfections in the communication medium.

How can we understand the effect of imperfect side information on our decisions?

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