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Value of Perfect Control

The oil wildcatter may also want to know what the value of perfect control (VPC) is on the cost of drilling. That is, how much is he willing to pay for getting complete control on the drilling cost? This analysis can be performed with the following statement:

  
       vpc Cost;
 

The result is written to the SAS log as

  
    NOTE: The currently optimal decision yields 140000. 
    NOTE: The new optimal decision yields 300000. 
    NOTE: The value of perfect control of stage Cost 
          yields 160000.