Dictionary
The Dictionary provides concise definitions of health economics terms, arranged alphabetically for quick reference. Use it to understand unfamiliar terminology or confirm the meaning of a specific term.
D
- Decision Uncertainty
- The probability that the currently preferred option in an evaluation is not actually the truly optimal choice, given uncertainty in the model's parameters.
V
- Value of Information
- A framework quantifying the expected benefit of reducing decision uncertainty, comparing expected outcomes under current uncertainty against outcomes if it were resolved.
- VOI Analysis
- An abbreviation for value of information analysis, applying formal decision-theoretic methods to quantify the expected benefit of reducing decision uncertainty.