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voiage

Basic VOI

This guide covers the fundamental VOI metrics: Expected Value of Perfect Information (EVPI) and Expected Value of Partial Perfect Information (EVPPI).

EVPI

Section titled “EVPI”

The Expected Value of Perfect Information (EVPI) is the maximum amount one should be willing to pay to eliminate all uncertainty. It provides an upper bound on the value of any further research.

EVPPI

Section titled “EVPPI”

The Expected Value of Partial Perfect Information (EVPPI) identifies which parameters or parameter subsets drive decision uncertainty. It helps prioritize research efforts toward the most impactful uncertainties.