Welfare Decision and Value of Information Analysis wrapper function.

Description

This function performs a Welfare Decision Analysis via a Monte Carlo simulation from input files and analyses the value of different information about the input variables. This value of information analysis can be done via combined PLSR - VIP analysis or via IndividualEVPI calculation. Results are saved as plots and tables.

Usage

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decisionSupport(inputFilePath, outputPath, welfareFunction, numberOfModelRuns,
  randomMethod = "calculate", functionSyntax = "data.frameNames",
  relativeTolerance = 0.05, write_table = TRUE, plsrVipAnalysis = TRUE,
  individualEvpiNames = NULL, sortEvpiAlong = if (individualEvpiNames)
  individualEvpiNames[[1]] else NULL, oldInputStandard = FALSE,
  verbosity = 1)

Arguments

inputFilePath

Path to input csv file, which gives the input estimate.

outputPath

Path where the result plots and tables are saved.

welfareFunction

The welfare function.

numberOfModelRuns

The number of running the welfare model for the underlying Monte Carlo simulation.

randomMethod

character: The method to be used to sample the distribution representing the input estimate. For details see option method in random.estimate.

functionSyntax

character: function syntax used in the welfare function(s). For details see mcSimulation.

relativeTolerance

numeric: the relative tolerance level of deviation of the generated confidence interval from the specified interval. If this deviation is greater than relativeTolerance a warning is given.

write_table

logical: If the full Monte Carlo simulation results and PLSR results should be written to file.

plsrVipAnalysis

logical: If PLSR-VIP analysis shall be performed.

individualEvpiNames

character vector: names of variables, which for the IndividualEVPI shall be obtained via Monte Carlo simulation. If =NULL (the default), no IndividualEVPI is calculated; if ="all", the IndividualEVPI is calculated for all variables. Note: depending on numberOfModelRuns and the complexity of welfare this might take a long time.

sortEvpiAlong

character: result name along which the summary of the IndividualEVPI shall be sorted. Only relevant if sortEvpiAlong!=NULL.

oldInputStandard

logical: If the old input standard should be used (estimate_read_csv_old).

verbosity

integer: if 0 the function is silent; the larger the value the more verbose is output information.

Details

This function integrates the most important features of this package into a single function. It is wrapped arround the functions welfareDecisionAnalysis, plsr.mcSimulation, VIP and individualEvpiSimulation.

Combined PLSR - VIP Analysis

The combined Partial Least Squares Regression (PLSR) and Variables Importance in Projection (VIP) analysis is implemented via: plsr.mcSimulation and VIP.

IndividualEVPI Calculation

Implementation: individualEvpiSimulation

See Also

mcSimulation, estimate, estimate_read_csv, plsr.mcSimulation, VIP, welfareDecisionAnalysis, individualEvpiSimulation, decisionSupport-package

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