Resources Repository
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ReviewPublication 2016Remembering Howard Raiffa
Howard Raiffa (1924-2016) had a profound influence on all aspects of the decision sciences and on …
Howard Raiffa (1924-2016) had a profound influence on all aspects of the decision sciences and on the fields of systems analysis and operations research. He guided the introduction of the decision sciences into numerous fields such as business, medicine, public health, the environmental sciences, and law, and was instrumental in building world-recognized institutions such as the Kennedy School at Harvard and the International Institute for Applied Systems Analysis near Vienna, Austria. This article is a thoughtful tribute by…
Preferences/Values | Operations Research | Decision Theory | Decision Analysis | Business/Industry | Economics/Finance | Health/Medicine | Military/Defense | North America -
ArticlePublication 2007Decision Analysis: A Personal Account of How It Got Started and Evolved
In this chapter, Howard Raiffa discusses the evolution of decision analysis and his personal involvement …
In this chapter, Howard Raiffa discusses the evolution of decision analysis and his personal involvement in its development. He describes the early days of Operations Research (OR) in the late 1940s with its approach to complex, strategic decision making. After reading John von Neumann and Oskar Morgenstern’s Theory of Games and Economic Behavior (1947) and Abraham Wald’s two books (1947, 1950), he became involved in statistical decision theory. A few years later, after reading Leonard…
Preferences/Values | Operations Research | Decision Theory | Probability/Bayes | Decision Analysis | Business/Industry | Economics/Finance | Energy/Engineering | Health/Medicine -
ArticlePublication 2016Estimating Benefits of Regulations Affecting Addictive Goods
The question of how to evaluate lost consumer surplus in benefit−cost analyses is controversial. There …
The question of how to evaluate lost consumer surplus in benefit−cost analyses is controversial. There are clear health benefits of regulations that curb consumption of goods with health risks, such as tobacco products and foods high in fats, calories, sugar, and sodium. Yet, if regulations cause consumers to give up goods they like, the health benefits they experience may be offset by some utility loss, which benefit−cost analyses of regulations need to take into account.…
Preferences/Values | Decision Theory | Benefit-Cost Analysis | Mental Health | Health/Medicine -
ReviewPublication 1982Decision Analysis: An Overview
This article, written for the non-decision analyst, describes what decision analysis is, what it can …
This article, written for the non-decision analyst, describes what decision analysis is, what it can and cannot do, why one should care to do this, and how one does it. Keeney describes decision analysis as "a formalization of common sense for decision problems which are too complex for informal use of common sense." He provides a more technical definition also, describing decision analysis as "a philosophy, articulated by a set of logical axioms, and a methodology…
Preferences/Values | Decision Theory | Decision Analysis | Policy/Regulation | Business/Industry | Economics/Finance | Energy/Engineering | Government/Law | Health/Medicine | Military/Defense | Science/Technology -
ReviewPublication 2021Review of Web-Based Tools for Value-of-Information Analysis
Value-of-information analysis (VOI) is an analytic approach used to inform research priorities, guide clinical trial …
Value-of-information analysis (VOI) is an analytic approach used to inform research priorities, guide clinical trial design, and provide information for decisions about reimbursement. The authors review existing web-based tools to facilitate VOI calculations. These include Sheffield Accelerated Value of Information (SAVI), the web interface to the BCEA (Bayesian Cost-Effectiveness Analysis) R package (BCEAweb), Rapid Assessment of Need for Evidence (RANE), and Value of Information for Cardiovascular Trials and Other Comparative Research (VICTOR).
Decision Theory | Priority Setting/Ethics | Value of Information | Cost-Effectiveness Analysis | Economics/Finance | Health/Medicine -
ArticlePublication 2023Valuing Mortality Risk: Per Life, Life Year, or QALY?
It is important to consider age and other relevant factors when assessing the value associated …
It is important to consider age and other relevant factors when assessing the value associated with reducing risks to ensure a comprehensive and accurate understanding of its impact. In a recent paper, it is explained that the value of risk reduction, whether it is a temporary or persistent reduction, can be defined using the "value per statistical life" (VSL), "value per statistical life year" (VSLY), or "value per quality-adjusted life year" (VQALY).
Preferences/Values | Risk Analysis | Benefit-Cost Analysis | Cost-Effectiveness Analysis -
ArticlePublication 2022Hospital Closures amid COVID-19
The recent trend of hospital closures in the US has accelerated during the COVID-19 pandemic, …
The recent trend of hospital closures in the US has accelerated during the COVID-19 pandemic, as hospitals have experienced financial hardship from reduced patient volume and elective surgery cases, as well as the thin financial margins for treating patients with COVID-19. This trend of hospital closures is concerning for patients, healthcare providers, and policymakers. This current opinion piece describes the challenges caused by hospital closures and discusses what policymakers should know based on the existing…
Operations Research | Health Systems | Health/Medicine | North America -
ArticlePublication 2020Data-Driven Management of Post-Transplant Medications
Organ-transplanted patients typically receive high amounts of immunosuppressive drugs as a mechanism to reduce their …
Organ-transplanted patients typically receive high amounts of immunosuppressive drugs as a mechanism to reduce their risk of organ rejection. However, because of the diabetogenic effect of these drugs, this practice exposes them to a greater risk of new-onset diabetes after transplantation (NODAT), and hence, becoming insulin dependent. This study develops effective medication management strategies to address the common conundrum of balancing the risk of organ rejection versus that of NODAT. The article presents a robust…
Operations Research | Mathematical Models | Chronic Disease/Risk | Health/Medicine | North America -
ArticlePublication 2021Employee Health Plans Powered by Analytics
This article describes a business model for the employee health plans of large firms to …
This article describes a business model for the employee health plans of large firms to bypass insurers and instead use direct contracts with hospitals which have been designated as centers of excellence. The authors propose methods of machine learning and data analytics to identify efficient and effective delivery systems, with the ultimate goal of improving health care quality.
Operations Research | Health Systems | North America