The difference between the maximum utility computed for the current parameter configuration (e.g. at the current simulation) U∗ and the current utility of the intervention associated with the maximum utility overall.
Arguments
- Ustar
Maximum utility value (sim x k)
- U
Net monetary benefit (sim x k x interv)
- best
Best intervention for given willingness-to-pay (k)
Details
In mathematical notation, OL(θ):=U∗(θ)−U(θτ)
where τ is the intervention associated with the overall maximum utility and U∗(θ) is the maximum utility value among the comparators in the given simulation. The opportunity loss is a non-negative quantity, since U(θτ)≤U∗(θ).
In all simulations where the intervention is more cost-effective (i.e. when incremental benefit is positive), then OL(θ)=0 as there would be no opportunity loss, if the parameter configuration were the one obtained in the current simulation.