Calculating the Expected Value of Sample Information Using Efficient Nested Monte Carlo: A Tutorial

The expected value of sample information (EVSI) quantifies the economic benefit of reducing uncertainty in a health economic model by collecting additional information. This has the potential to improve the allocation of research budgets. Despite this, practical EVSI evaluations are limited partly due to the computational cost of estimating this value using the gold-standard nested simulation methods. Recently, however, Heath et al. developed an estimation procedure that reduces the number of simulations required for this gold-standard calculation.
Source: Value in Health - Category: International Medicine & Public Health Authors: Source Type: research