Influence of Modeling Choices on Value of Information Analysis: An Empirical Analysis from a Real-World Experiment

Value of information (VOI) analysis often requires modeling to characterize and propagate uncertainty. In collaboration with a cancer clinical trial group, we integrated a VOI approach to assessing trial proposals. This paper aims to explore the impact of modeling choices on VOI results and to share lessons learned from the experience. After selecting two proposals (A: phase III, breast cancer; B: phase II, pancreatic cancer) for in-depth...