Table 2 Expected values (i.e., losses)
From: Value of information analysis for assessing risks and benefits of nanotechnology innovation
Loss type | Enumeration | Normal approximation | ||||
|---|---|---|---|---|---|---|
Class. | Quadratic | Linear | Class. | Quadratic | Linear | |
Expected value (L′) | \( L_{c}^{{\prime }} \) 0.43210 | \( L_{q}^{{\prime }} \) 0.07483 | \( L_{q}^{{\prime }} \) 0.01057 | \( L_{q}^{{\prime }} \) 0.42057 | NA | \( L_{l}^{{\prime }} \) 0.00000 |
Expected perfect value (L*) | \( L_{c}^{*} \) 0.00000 | \( L_{q}^{*} \) 0.00000 | \( L_{q}^{*} \) 0.00000 | \( L_{q}^{*} \) 0.00000 | NA | \( L_{l}^{*} \) 0.00000 |
Expected value of perfect information (EVPI) | 0.43210 | 0.07483 | 0.01057 | 0.42057 | NA | 0.00000 |
Expected value for the strategy “research on risks” (Lr) | \( L_{c}^{r} \) 0.03084 | \( L_{q}^{r} \) 0.00105 | \( L_{q}^{r} \) 0.00044 | \( L_{q}^{r} \) 0.32076 | NA | \( L_{l}^{r} \) 0.00000 |
Expected value for the strategy “research on benefits” (Lb) | \( L_{c}^{b} \) 0.09053 | \( L_{q}^{b} \) 0.00686 | \( L_{q}^{b} \) 0.00161 | \( L_{q}^{b} \) 0.36242 | NA | \( L_{l}^{b} \) 0.00000 |