Population expected value of information

Convert per-person expected value of information to the population expected value of information, given a discount rate over some time horizon.

Usage

pop_voi(voi, pop, time, dis = 0.035)

Arguments

voi

Vector of estimates of any per-person value of information measure, e.g. the evsi column of the data frame returned by evsi or the correspondingly-named columns of the data frames returned by evppi or evpi.

pop

Size of the population who would be affected by the decision.

time

Time horizon over which discounting will be applied.

dis

Discount rate used when converting per-person to population EVSI.

Value

A vector of population VoI estimates.

Details

Calculated as voi*pop/dis*(1 - exp(-dis*time)), or voi*pop if the discount rate is zero. This is a continuous-time variant of the typical discrete-time discounting formula.

Any arguments may be supplied as vectors, in which case, all arguments are replicated to the length of the longest argument.