compute_vi: Compute Value of Information

In BCEA: Bayesian Cost Effectiveness Analysis

Compute Value of Information

Description

The difference between the maximum utility computed for the current parameter configuration U^* and the utility of the intervention which is associated with the maximum utility overall.

Usage

compute_vi(Ustar, U)

Arguments

Ustar	Maximum utility value (sim x k)
U	Net monetary benefit (sim x k x interv)

Details

The value of obtaining additional information on the parameter \theta to reduce the uncertainty in the decisional process. It is defined as:

\textrm{VI}(\theta) := U^*(\theta) - \mathcal{U}^*

with U^*(\theta) the maximum utility value for the given simulation among all comparators and \mathcal{U}^*(\theta) the expected utility gained by the adoption of the cost-effective intervention.

Value

Array with dimensions (sim x k)

See Also

compute_ol()

BCEA documentation built on June 22, 2024, 11:08 a.m.