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Uncertainty and value of information when allocating resources within and between healthcare programmes

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  • Chalabi, Zaid
  • Epstein, David
  • McKenna, Claire
  • Claxton, Karl

Abstract

A two-stage stochastic mathematical programming formulation has been developed to optimally allocate resources within and between healthcare programmes when there is an exogenous budget and the parameters of the healthcare models are variable and uncertain. This formulation solves the optimal resource allocation problem and calculates the expected value of acquiring additional information to resolve the uncertainties within the allocation. It is shown that the proposed formulation has several advantages over the chance constrained and robust mathematical programming methods.

Suggested Citation

  • Chalabi, Zaid & Epstein, David & McKenna, Claire & Claxton, Karl, 2008. "Uncertainty and value of information when allocating resources within and between healthcare programmes," European Journal of Operational Research, Elsevier, vol. 191(2), pages 530-539, December.
  • Handle: RePEc:eee:ejores:v:191:y:2008:i:2:p:530-539
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    References listed on IDEAS

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    1. Claxton, Karl, 1999. "The irrelevance of inference: a decision-making approach to the stochastic evaluation of health care technologies," Journal of Health Economics, Elsevier, vol. 18(3), pages 341-364, June.
    2. Leung, Stephen C.H. & Tsang, Sally O.S. & Ng, W.L. & Wu, Yue, 2007. "A robust optimization model for multi-site production planning problem in an uncertain environment," European Journal of Operational Research, Elsevier, vol. 181(1), pages 224-238, August.
    3. Maiwenn J. Al & Talitha L. Feenstra & Ben A. van Hout, 2005. "Optimal allocation of resources over health care programmes: dealing with decreasing marginal utility and uncertainty," Health Economics, John Wiley & Sons, Ltd., vol. 14(7), pages 655-667, July.
    4. Stinnett, Aaron A. & Paltiel, A. David, 1996. "Mathematical programming for the efficient allocation of health care resources," Journal of Health Economics, Elsevier, vol. 15(5), pages 641-653, October.
    5. Azondekon, Sebastien H. & Martel, Jean-Marc, 1999. ""Value" of additional information in multicriterion analysis under uncertainty," European Journal of Operational Research, Elsevier, vol. 117(1), pages 45-62, August.
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    Cited by:

    1. Tom L. Drake & Yoel Lubell & Shwe Sin Kyaw & Angela Devine & Myat Phone Kyaw & Nicholas P. J. Day & Frank M. Smithuis & Lisa J. White, 2017. "Geographic Resource Allocation Based on Cost Effectiveness: An Application to Malaria Policy," Applied Health Economics and Health Policy, Springer, vol. 15(3), pages 299-306, June.
    2. Galioto, F., 2018. "The value of information for the management of water resources in agriculture: comparing the economic impact of alternative sources of information to schedule irrigation," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277384, International Association of Agricultural Economists.
    3. McKenna, Claire & Chalabi, Zaid & Epstein, David & Claxton, Karl, 2010. "Budgetary policies and available actions: A generalisation of decision rules for allocation and research decisions," Journal of Health Economics, Elsevier, vol. 29(1), pages 170-181, January.
    4. Bayram, Armagan & Solak, Senay & Johnson, Michael, 2014. "Stochastic models for strategic resource allocation in nonprofit foreclosed housing acquisitions," European Journal of Operational Research, Elsevier, vol. 233(1), pages 246-262.
    5. Moreno, Elías & Girón, F.J. & Vázquez-Polo, F.J. & Negrín, M.A., 2012. "Optimal healthcare decisions: The importance of the covariates in cost–effectiveness analysis," European Journal of Operational Research, Elsevier, vol. 218(2), pages 512-522.
    6. Cannon, Jeffrey W. & Mueller, Ute A. & Hornbuckle, Janet & Larson, Ann & Simmer, Karen & Newnham, John P. & Doherty, Dorota A., 2013. "Economic implications of poor access to antenatal care in rural and remote Western Australian Aboriginal communities: An individual sampling model of pregnancy," European Journal of Operational Research, Elsevier, vol. 226(2), pages 313-324.

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