Abstract
The information in data depends on the subjective value system that the receiver of the data uses to interpret them. This paper looks at the information in a theory of first order logic (a knowledge base) from the perspective of a decision maker for whom the validation of formulae (facts and rules) have varying importance. The decision maker's preferences and prior knowledge are both incorporated into the information measure. The value of information is determined by what it conveys about the formulae of importance to the decision maker. The information measure is applied as a heuristic in commonsense reasoning; in relevance assessment ; and as a preference function in belief revision.
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