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Problem setup

Define decision problems and display results.

voi_problem()
Define a Value of Information problem
voi_problem_from_dist()
Define a VOI problem from probability distributions
decision_table()
Build a formatted decision table from a VOI problem

Risk preferences

Construct, elicit, and use risk preference objects.

risk_preference()
Create a risk preference object directly from known parameters
use_risk_preference()
Generate utility and inverse-utility closures from a risk preference object
elicit_risk_preferences()
Elicit risk preferences through interactive questions
plot(<risk_preference>)
Plot diagnostics for a risk_preference object

VOI pipeline

Step-by-step pipeline for computing VOI. Each function advances the voi_problem object through one stage of the calculation.

transform_to_utility()
Transform action-state values to utility units
optimize_action()
Find the optimal action under certainty and uncertainty
calculate_utility_dist()
Evaluate the utility distribution across states for each experiment outcome
summarize_utility()
Summarise the utility distribution to a single number
transform_to_values()
Convert summarised utility back to original outcome units
calculate_value_info()
Calculate the Value of Information

High-level VOI functions

Convenience wrappers that run the full pipeline in one call.

calculate_evpi()
Calculate EVPI in one step
calculate_evsi()
Calculate EVSI in one step
survey_worth_it()
Compare a proposed survey cost against the EVPI or EVSI
voi_sensitivity()
Compute VOI across a range of risk aversion parameter values

Summary functions

Scalar summaries of outcome distributions (used inside the pipeline).

EV_voi()
Expected value (probability-weighted mean)
ES_voi()
Expected shortfall (Conditional Value-at-Risk)
max_voi()
Maximum value across states with non-zero probability
min_voi()
Minimum value across states with non-zero probability
stdev_voi()
Probability-weighted standard deviation (negated so maximizing = less spread)
quantile_voi()
Quantile of a discrete probability distribution

Utility functions

CRRA and CARA utility and inverse-utility transformations.

crra_utility()
CRRA utility function
crra_inv_utility()
Inverse CRRA utility function
cara_utility()
CARA utility function
cara_inv_utility()
Inverse CARA utility function

Calibration and diagnostics

Tools for evaluating elicitation performance.

run_accuracy_vs_questions()
Simulate elicitation accuracy across question counts
run_asymptotic_performance_suite()
Run the asymptotic calibration suite for the elicitation algorithm

Datasets

Published decision problems included for worked examples and validation.

canessa2015
Canessa et al. (2015) chytrid frog conservation problem
runge2011
Runge et al. (2011) fire ant eradication problem
runge2011_crane
Whooping Crane EVPXI problem from Runge et al. (2011)
turtle
Turtle reintroduction problem
williams2015
Williams et al. (2015) predator-prey management problem
bennett2018_parcel
Species Protection (Single Parcel & Two-Parcel Budget) from Bennett et al. (2018)
bennett2018_multispecies
Multi-Species Triage from Bennett et al. (2018)
mantyniemi2009_fishing
Fishing Location Choice and North Sea Herring from Mäntyniemi et al. (2009)
davis2019_s1
Davis et al. (2019) System 1 pre-computed performance matrices