Examining the Feasibility and Utility of Estimating Partial Expected Value of Perfect Information (via a Nonparametric Approach) as Part of the Reimbursement Decision-Making Process in Ireland: Application to Drugs for Cancer

2017 ◽  
Vol 35 (11) ◽  
pp. 1177-1185 ◽  
Author(s):  
Laura McCullagh ◽  
Susanne Schmitz ◽  
Michael Barry ◽  
Cathal Walsh
Keyword(s):  
Decision Making ◽  
Expected Value ◽  
Perfect Information ◽  
Reimbursement Decision ◽  
Decision Making Process ◽  
Nonparametric Approach ◽  
Value Of Perfect Information

scholarly journals Expected Value of Perfect Information: An Empirical Example of Reducing Decision Uncertainty by Conducting Additional Research

2008 ◽  
Vol 11 (7) ◽  
pp. 1070-1080 ◽  
Author(s):  
Jan B. Oostenbrink ◽  
Maiwenn J. Al ◽  
Mark Oppe ◽  
Maureen P.M.H. Rutten-van Mölken
Keyword(s):  
Expected Value ◽  
Perfect Information ◽  
Additional Research ◽  
Decision Uncertainty ◽  
Value Of Perfect Information

scholarly journals Dynamic Pricing Based on Strategic Consumers and Substitutes in a Duopoly Setting

2014 ◽  
Vol 2014 ◽  
pp. 1-9
Author(s):  
Gongbing Bi ◽  
Lechi Li ◽  
Feng Yang ◽  
Liang Liang
Keyword(s):  
Decision Making ◽  
Nash Equilibrium ◽  
Product Differentiation ◽  
Dynamic Pricing ◽  
Dynamic Game ◽  
Solution Concept ◽  
Expected Value ◽  
Decision Making Process ◽  
Pricing Model ◽  
Strategic Consumers

Based on the rational strategic consumers, we construct a dynamic game to build a two-period dynamic pricing model for two brands of substitutes which are sold by duopoly. The solution concept of the dynamic game is Nash equilibrium. In our model, consumers have been clearly segmented into several consumption classes, according to their expected value of the products. The two competing firms enter a pricing game and finally reach the state of Nash equilibrium. In addition, decision-making process with only myopic consumers existing in the market is analyzed. To make the paper more practical and realistic, the condition, in which the myopic and strategic consumers both exist in the market, is also considered and studied. In order to help the readers understand better and make it intuitively more clearly, a numerical example is given to describe the influence of the main parameters to the optimal prices. The result indicates that, to maintain the firms’ respective optimal profits, the prices of the products should be adjusted appropriately with the changes of product differentiation coefficient.

Sign in / Sign up

Export Citation Format

Share Document