A Gaussian Approximation Approach for Value of Information Analysis.

ABSTRACT: Most decisions are associated with uncertainty. Value of information (VOI) analysis quantifies the opportunity loss associated with choosing a suboptimal intervention based on current imperfect information. VOI can inform the value of collecting additional information, resource allocation, research prioritization, and future research designs. However, in practice, VOI remains underused due to many conceptual and computational challenges associated with its application. Expected value of sample information (EVSI) is rooted in Bayesian statistical decision theory and measures the value of information from a finite sample. The past few years have witnessed a dramatic growth in computationally efficient methods to calculate EVSI, including metamodeling. However, little research has been done t

SUBMITTER: Jalal H 

PROVIDER: S-EPMC8608426 | biostudies-literature | 2018 Feb

REPOSITORIES: biostudies-literature