The difference between the maximum utility computed for the current parameter configuration \(U^*\) and the utility of the intervention which is associated with the maximum utility overall.
compute_vi(Ustar, U)Array with dimensions (sim x k)
Maximum utility value (sim x k)
Net monetary benefit (sim x k x interv)
The value of obtaining additional information on the parameter \(\theta\) to reduce the uncertainty in the decisional process. It is defined as:
$$\textrm{VI}(\theta) := U^*(\theta) - \mathcal{U}^*$$
with \(U^*(\theta)\) the maximum utility value for the given simulation among all comparators and \(\mathcal{U}^*(\theta)\) the expected utility gained by the adoption of the cost-effective intervention.
compute_ol()