Resources Repository
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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).
Value of Information | Economics/Finance | Decision Theory | Priority Setting/Ethics | Cost-Effectiveness Analysis | Health/Medicine -
ArticlePublication 2022Economic Value of Clinical Artificial Intelligence
Artificial intelligence (AI) is increasingly used in clinical applications. Nevertheless, its flexibility and difficulties around …
Artificial intelligence (AI) is increasingly used in clinical applications. Nevertheless, its flexibility and difficulties around collecting data on its clinical impacts make value assessment challenging. This article uses a value framework as the basis for assessing how AI may create value depending on how it is used. Authors also provide advice to health economists seeking to model AI’s clinical impacts. There are multiple ways that AI challenges traditional health technology assessment methodology. Authors highlight several…
Value of Information | Economics/Finance | Technology Assessment | Science/Technology | Global -
ArticlePublication 2022Emerging Therapies for COVID-19: The Value of Information From More Clinical Trials
The COVID-19 pandemic necessitated time-sensitive policy and implementation decisions regarding new therapies in the face …
The COVID-19 pandemic necessitated time-sensitive policy and implementation decisions regarding new therapies in the face of uncertainty. This study aimed to quantify consequences of approving therapies or pursuing further research. The authors used a cohort state-transition model for hospitalized patients with COVID-19 to estimate quality-adjusted life-years (QALYs) and costs associated with multiple drug regimens and usual care. For each they assessed immediate approval, use only in research, emergency use authorization or reject. They conducted cost-effectiveness…
Value of Information | Economics/Finance | State-Transition | Benefit-Cost Analysis | Infectious Diseases | Policy/Regulation | North America | Europe -
ReportPublication 2021Valuing COVID-19 Mortality and Morbidity Risks
In this report, the researchers develop an approach for valuing COVID-19 mortality and morbidity risk …
In this report, the researchers develop an approach for valuing COVID-19 mortality and morbidity risk reductions that builds on the U.S. Department of Health and Human Services (HHS) Guidelines for Regulatory Impact Analysis. They review the differences between COVID-19 mortality risks and the types of risks that are more commonly studied, and find that the impacts of these differences on the value of mortality risk reductions (the value per statistical life, VSL) are uncertain. They…
Preferences/Values | Government/Law | Benefit-Cost Analysis | Infectious Diseases | Policy/Regulation | North America -
ArticlePublication 2020Valuing COVID-19 Mortality Risk
In this article, the author evaluates whether conventional estimates of the value per statistical life …
In this article, the author evaluates whether conventional estimates of the value per statistical life (VSL) in the United States (about $10 million) are appropriate for evaluating policies that affect risk of COVID-19. This estimate may be too large, because: (1) VSL estimates marginal values but COVID-19 risks can be non-marginal; (2) VSL is estimated for the average resident, but COVID-19 mortality is concentrated among the elderly; and (3) the pandemic has caused substantial losses…
Preferences/Values | Government/Law | Benefit-Cost Analysis | Infectious Diseases | Global -
ArticlePublication 2021COVID and the Age–VSL Relationship
In this article, the researchers explore the approach used to value COVID-19 mortality risk reductions …
In this article, the researchers explore the approach used to value COVID-19 mortality risk reductions in analyses of lockdowns and other policies. Many rely on a population-average estimate of the value per statistical life (VSL); others adjust VSL for life expectancy at the age of death. The article explores the implications of theory and empirical studies, which suggest that the relationship between age and VSL is uncertain; these uncertainties in turn may affect whether the…
Preferences/Values | Government/Law | Benefit-Cost Analysis | Infectious Diseases | Health/Medicine | North America -
ArticlePublication 2021Why the Backfire Effect Does Not Explain the Durability of Political Misperceptions
Previous research indicated that corrective information can sometimes provoke a so-called “backfire effect” in which …
Previous research indicated that corrective information can sometimes provoke a so-called “backfire effect” in which respondents more strongly endorsed a misperception about a controversial political or scientific issue when their beliefs or predispositions were challenged. This article shows how subsequent research and media coverage seized on this finding, distorting its generality and exaggerating its role relative to other factors in explaining the durability of political misperceptions. To the contrary, an emerging research consensus finds that…
Preferences/Values | Government/Law | Decision Psychology | Social Determinants | Culture/Society | Health/Medicine | Science/Technology | North America -
ArticlePublication 2021Misinformation in and About Science
Humans learn about the world by collectively acquiring information, filtering it, and sharing what we …
Humans learn about the world by collectively acquiring information, filtering it, and sharing what we know. Misinformation undermines this process. The repercussions are extensive. Without reliable and accurate sources of information, we cannot hope to halt climate change, make reasoned democratic decisions, or control a global pandemic. Most analyses of misinformation focus on popular and social media, but the scientific enterprise faces a parallel set of problems – from hype and hyperbole to publication bias…
Preferences/Values | Government/Law | Decision Psychology | Social Determinants | Culture/Society | Science/Technology | Global | North America -
Online LearningVideo, Teaching Resource 2019Colloquium on Misinformation About Science in the Public Sphere
This colloquium was held in April 2019 at Irvine, CA in and was co-sponsored by …
This colloquium was held in April 2019 at Irvine, CA in and was co-sponsored by the Rita Allen Foundation, Science Sandbox, Alfred P. Sloan Foundation, and the KAVLI Foundation. Misinformation about science in the public sphere is of great concern to scientists and to those who seek to communicate and support the use of science in public debate and decision-making. Participants examined the growing body of research on the factors that make people more or…
Preferences/Values | Government/Law | Decision Psychology | Priority Setting/Ethics | Culture/Society | Energy/Engineering | Health/Medicine | Science/Technology | North America