Statistical Methodsevidence: mediumv1.0.0
Value of Information Analysis
A framework for quantifying the potential benefits of further research by estimating the expected costs of parameter uncertainty.
Definition
Value of information (VOI) analysis estimates the expected benefit of resolving parameter uncertainty, helping to prioritise future research. The Expected Value of Perfect Information (EVPI) represents the maximum value of eliminating all uncertainty. The Expected Value of Partially Perfect Information (EVPPI) quantifies the value of resolving uncertainty in specific parameters or groups of parameters.
Canonical Identity
- Authority
- https://www.darrinbaines.org
- Version
- 1.0.0
- Published
- 4/26/2026
- Structured Data
- View JSON-LD →