Dictionary
The Dictionary provides concise definitions of health economics terms, arranged alphabetically for quick reference. Use it to understand unfamiliar terminology or confirm the meaning of a specific term.
B
- BranchTree Pathway, Outcome Pathway
- A pathway within a decision tree representing one of the possible outcomes or choices available at a given node.
C
- Chance NodeProbability Node, Random Node
- A point in a decision tree where the pathway followed is determined by probability rather than choice, branches summing to one.
D
- Decision NodeChoice Node, Decision Point
- A point in a decision tree at which a choice must be made between two or more strategies, unlike a chance node.
- Decision TreeTree Model, Branching Decision Model
- A decision tree is a branching decision-analytic model that represents choices, uncertain events and terminal outcomes so the expected costs and consequences of alternative strategies can be calculated.
- Decision Tree ModelTree-Based Model, Branch Model
- A decision-analytic model built on the decision tree structure, with all possible patient pathways explicitly represented as branches to calculate expected cost.
E
- Economic Model TypeModel Category, Decision-Analytic Structure
- The general category of decision-analytic structure, such as a decision tree, Markov model, or transmission model, chosen for a given evaluation.
F
- Folding BackBackward Induction, Rolling Back
- Folding back is the backward evaluation of a decision tree that takes probability-weighted values at chance nodes and selects the preferred feasible action at decision nodes under a stated objective.
H
- Hybrid ModelHybrid Decision Model, Combined Model
- A decision-analytic model combining two or more approaches, such as a decision tree feeding into a Markov model, to represent a disease process.
I
- Integration TestingInterface Testing, Component-Interaction Testing
- A verification technique examining whether different model components, such as a decision tree feeding into a Markov model, work correctly together.
M
- Model IntegrationModel Coupling, System Integration
- The process of combining separate model components, such as a short-term decision tree and a longer-term Markov model, into one framework.
T
- Terminal NodeLeaf Node, End Node
- The endpoint of a branch within a decision tree, where no further events are attached and final cost and outcome values are recorded.