An improved measure for comparing diagnostic tests
We present a loss based method for comparing the predictive performance of diagnostic tests. Unlike standard assessment mechanisms, like the area under the receiver-operating characteristic curve and the misclassification rate, our method takes specific advantage of any information that can be obtained about misclassification costs. We argue that not taking costs into account can lead to incorrect conclusions, and illustrate with two examples.
diagnostic test roc curve analysis misdiagnosis costs