Equity-Efficiency Trade-off
The equity-efficiency trade-off is the total health given up for a fairer distribution when the option that maximises health is not the fairest one.
Encyclopaedia
Explore comprehensive, evidence-informed explanations of key health economics concepts, including their development, application and relationships to other concepts. Published entries are validated through human expert review.
Concepts, entries and ontology terms
A concept page is a published entry on the wiki. Some concepts also have a full encyclopaedia article. The Health Economics Ontology (HEO) holds every concept, including dictionary terms without an article, so it is larger than the list of published pages. The knowledge graph shows how concepts relate to each other.
Equity-Weighted Analysis
Equity-weighted analysis is a cost-effectiveness analysis in which health gains for priority groups, such as the severely ill, are weighted more heavily.
Equivalent Variation
Equivalent variation (EV) is the income change, made instead of a price, health or policy change, that leaves a person as well off as that change would.
Event Probability
An event probability is the chance that a specified event occurs in a defined population or risk set over a stated time interval.
Event Queue
An event queue is the time-ordered list of future events that a discrete event simulation uses to move a patient-level health economic model through time.
Exchangeable Correlation
Exchangeable correlation is a GEE working correlation in which all observations in a cluster, such as patients in a practice, share a common correlation.
Expected Net Benefit
Expected net benefit is the mean net benefit of a healthcare option across parameter uncertainty at a set threshold; the option with the highest is chosen.
Expected Net Benefit of Sampling
Expected net benefit of sampling (ENBS) is a proposed study's population expected value of sample information minus its expected total cost.
Expected Utility
Expected utility is the probability-weighted sum of the utilities of an option's outcomes, used in health decision analysis to rank choices under risk.
Expected Value
Expected value is the probability-weighted mean of an uncertain outcome, such as a cost or QALY total, across all its possible values.
Expected Value Analysis
Expected value analysis compares health care options under uncertainty by their probability-weighted average outcomes, such as expected costs and QALYs.
Expected Value Criterion
The expected value criterion is a decision rule that chooses the option with the highest probability-weighted mean outcome, such as expected net benefit.
Expected Value of Partial Perfect Information
Expected value of partial perfect information (EVPPI) is the expected gain in net benefit from knowing selected model parameters exactly before deciding.
Expected Value of Perfect Information
Expected value of perfect information (EVPI) is the expected gain from removing all uncertainty in a funding decision, the upper limit on research value.
Expected Value of Sample Information
Expected value of sample information (EVSI) is the expected net benefit gained by deciding after a specific proposed study reports instead of deciding now.
Experimental Design
Experimental design is the planning of how a trial or choice experiment assigns interventions or attributes so their effects can be estimated without bias.
Exploratory Factor Analysis
Exploratory factor analysis is a latent-variable method that examines whether correlations among observed variables can be represented by a smaller, initially unspecified set of common factors.
Exponential Distribution
A probability distribution characterised by a constant hazard rate over time, used to model event timing when risk is assumed not to change.
Exponential Model
A survival model assuming time-to-event data follow an exponential distribution, implying a constant hazard rate throughout the modelled time horizon.
Extended Cost-Effectiveness
Extended cost-effectiveness analysis (ECEA) is an economic evaluation that reports a policy's health gains, financial protection and costs by income group.