2015/07/09 by Anna Heath, Heath, Anna, Ioanna Manolopoulou +3
Economics, Econometrics and Finance · #Applications (stat.AP) #Economic and Environmental Valuation #FOS: Computer and information sciences #Health Systems, Economic Evaluations, Quality of Life
paper · pdf · doi:10.48550/arxiv.1507.02513
openalex publication_date 2015/07/09 · openalex created_date 2022/10/04 · openalex updated_date 2026/07/28
Over recent years Value of Information analysis has become more widespread in\nhealth-economic evaluations, specifically as a tool to perform Probabilistic\nSensitivity Analysis. This is largely due to methodological advancements\nallowing for the fast computation of a typical summary known as the Expected\nValue of Partial Perfect Information (EVPPI). A recent review discussed some\nestimations method for calculating the EVPPI but as the research has been\nactive over the intervening years this review does not discuss some key\nestimation methods. Therefore, this paper presents a comprehensive review of\nthese new methods. We begin by providing the technical details of these\ncomputation methods. We then present a case study in order to compare the\nestimation performance of these new methods. We conclude that the most recent\ndevelopment based on non-parametric regression offers the best method for\ncalculating the EVPPI efficiently. This means that the EVPPI can now be used\npractically in health economic evaluations, especially as all the methods are\ndeveloped in parallel with R\n