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A Systematic and Critical Review of the Evolving Methods and Applications of Value of Information in Academia and Practice

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  • Lotte Steuten
  • Gijs Wetering
  • Karin Groothuis-Oudshoorn
  • Valesca Retèl

Abstract

VOI analysis receives increasing attention in both the methodological and the applied literature bases, but challenges to applying VOI in real-life decision making remain. For many technical and methodological challenges to VOI analytic solutions have been proposed in the literature, including leaner methods for VOI. Further research should also focus on the needs of decision makers regarding VOI. Copyright Springer International Publishing Switzerland 2013

Suggested Citation

  • Lotte Steuten & Gijs Wetering & Karin Groothuis-Oudshoorn & Valesca Retèl, 2013. "A Systematic and Critical Review of the Evolving Methods and Applications of Value of Information in Academia and Practice," PharmacoEconomics, Springer, vol. 31(1), pages 25-48, January.
    • Handle: RePEc:spr:pharme:v:31:y:2013:i:1:p:25-48
    DOI: 10.1007/s40273-012-0008-3
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    References listed on IDEAS

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    Cited by:

    1. Goeschl, Timo & Heyen, Daniel, 2016. "Precision requirements in pesticide risk assessments: Contrasting value-of-information recommendations with the regulatory practice in the EU," Working Papers 0607, University of Heidelberg, Department of Economics.
    2. Wesley J. Marrero & Mariel S. Lavieri & Jeremy B. Sussman, 2021. "Optimal cholesterol treatment plans and genetic testing strategies for cardiovascular diseases," Health Care Management Science, Springer, vol. 24(1), pages 1-25, March.
    3. Gordon Hazen & Emanuele Borgonovo & Xuefei Lu, 2023. "Information Density in Decision Analysis," Decision Analysis, INFORMS, vol. 20(2), pages 89-108, June.
    4. Michael C. Runge & Clark S. Rushing & James E. Lyons & Madeleine A. Rubenstein, 2023. "A Simplified Method for Value of Information Using Constructed Scales," Decision Analysis, INFORMS, vol. 20(3), pages 220-230, September.

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