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.
C
- Convergence AssessmentConvergence Diagnostics, MCMC Diagnostics
- An evaluation of whether an iterative algorithm, such as a Markov chain Monte Carlo simulation, has run enough iterations to produce stable results.
I
- Importance SamplingWeighted Sampling, Importance-Weighted Monte Carlo
- A variance reduction technique for Monte Carlo simulation that deliberately oversamples important regions of a distribution, then reweights the samples to correct for this.
M
- Monte Carlo SimulationMCS, Second-Order Simulation
- Monte Carlo simulation uses repeated random sampling to show how uncertainty in model inputs produces uncertainty in model outputs.