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Medical Decision Making pp 143–159Cite as

A Test’s Total Value of Information

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Abstract

In this chapter we depart from the optimal test and treatment strategy for an individual patient to deal with aggregate choices. We present the concept of a test’s total value of information over the entire prevalence range within which it is used. To gain a dimensionless measure we compare a given test with a perfect test. The resulting performance index lies between zero and one, where zero implies a useless test and one a perfect one.

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Notes

  1. 1.

    Raiffa, H. – Decision Analysis: Introductory lectures on choices under uncertainty – Addison-Wesley Publishing Company, Reading, MA – 1968, p. 272.

References

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Author information

Authors and Affiliations

  1. Faculty of Business and Economics Department of Health Economics, University of Basel, Peter Merian-Weg 6, 4002, Basel, Switzerland

    Professor Dr. Stefan Felder

  2. Department of Business Administration and Economics Chair of Health Economics, University of Duisburg-Essen, Schützenbahn 70, 45117, Essen, Germany

    Dipl. Vw. Thomas Mayrhofer

Authors
  1. Professor Dr. Stefan Felder
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  2. Dipl. Vw. Thomas Mayrhofer
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Correspondence to Stefan Felder .

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© 2011 Springer-Verlag Berlin Heidelberg

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Felder, S., Mayrhofer, T. (2011). A Test’s Total Value of Information. In: Medical Decision Making. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-18330-0_9

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  • DOI: https://doi.org/10.1007/978-3-642-18330-0_9

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  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-18329-4

  • Online ISBN: 978-3-642-18330-0

  • eBook Packages: Business and EconomicsEconomics and Finance (R0)

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