Research Prioritization Two: Advanced Computation of Value of Information Measure to Determine

Description and Objectives:

This course presents computation methods for the Expected Value of Sample Information (EVSI), a decision-theoretic measure of the monetary value of collecting additional information through potential future research. Participants will discuss EVSI and how it can be used to design research studies. The course will then give a demonstration of how to efficiently compute EVSI in practice with accompanying code provided in R.

The purpose of this course is to introduce EVSI as a tool for research prioritization and study design. The course will introduce several recent methods for the calculation of EVSI alongside R code to calculate and present these measures. By the end of the course, participants will be able to:

  • Distinguish four recently developed calculation methods for EVSI

  • Decide which EVSI calculation method is suitable for a given health economic decision model

  • Calculate EVSI in R for two different health economic models

  • Present EVSI analyses using standardized, publication-quality graphics

  • Discuss key assumptions for calculating the Expected Net Benefit of Sampling (ENBS)

  • Design efficient future research studies by determining their optimal sample sizes

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