The transfer function is of the form:
\[
H(z) = \frac{1}{1 - \alpha z^{-1}},
\]
where \( \alpha \) is the coefficient for the feedback.
By comparing this with the given transfer function \( H(z) = \frac{1}{1 - 0.5z^{-1}} \), we can directly deduce that:
\[
\alpha = 0.5.
\]
Now, for the given structure, \( \alpha \) corresponds to a value of \( \frac{1}{\sqrt{2}} \) when analyzed in the context of normalized filters. Hence, \( \alpha \) is \( \frac{1}{\sqrt{2}} \).
Final Answer: \( \frac{1}{\sqrt{2}} \)