In this article, we investigate the impact of information on networked
control systems, and illustrate how to quantify a fundamental property of
stochastic processes that can enrich our understanding about such systems. To
that end, we develop a theoretical framework for the joint design of an event
trigger and a controller in optimal event-triggered control. We cover two
distinct information patterns: perfect information and imperfect information.
In both cases, observations are available at the event trigger instantly, but
are transmitted to the controller sporadically with one-step delay. For each
information pattern, we characterize the optimal triggering policy and optimal
control policy such that the corresponding policy profile represents a Nash
equilibrium. Accordingly, we quantify the value of information
VoIk as the variation in the cost-to-go of the system given
an observation at time k. Finally, we provide an algorithm for approximation
of the value of information, and synthesize a closed-form suboptimal triggering
policy with a performance guarantee that can readily be implemented