Monte Carlo Error
Monte Carlo error is the random numerical difference between a finite-simulation estimate and the target quantity it would approach with sufficiently many valid draws under the specified model.
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.
Monte Carlo Integration
Monte Carlo integration estimates an integral, such as a model's expected cost or QALYs, by averaging the integrand over randomly sampled inputs.
Monte Carlo Simulation
Monte Carlo simulation runs a health economic model many times on randomly sampled inputs to estimate expected costs and QALYs and their uncertainty.
Moral Hazard
Moral hazard is the change in behaviour, such as greater use of healthcare, that occurs when insurance shields people from the full cost of their choices.
Moral Hazard in Health Insurance
Moral hazard in health insurance is extra healthcare use when cover lowers the price patients pay, and any reduced effort to stay healthy once insured.
Morris Method
A global sensitivity-screening method that samples one-input-at-a-time elementary effects across multiple model-input settings to identify influential or varying inputs.
Mortality Rate
A mortality rate is deaths in a population over a period divided by its mid-period size or person-time at risk, used in burden studies and economic models.
Moving Target Problem
The moving target problem arises when a device, software or procedure changes during HTA, so evidence on it may be out of date by the time of the decision.
Multi-Attribute Utility
Multi-attribute utility is a health state utility built by combining utilities for several health dimensions with an additive or multiplicative function.
Multi-Criteria Decision Analysis
Multi-criteria decision analysis (MCDA) is a set of methods that compare health care options on several explicit criteria, often with weighted trade-offs.
Multi-Objective Optimisation
Multi-objective optimisation finds the efficient trade-offs when a health budget decision has conflicting goals, such as total QALYs and health equity.
Multi-State Life Table
A life-table framework that uses transitions among multiple living states and death to estimate how long a specified population or starting group is expected to spend in each state.
Multicollinearity
Multicollinearity is near or exact linear dependence among the predictors in a cost, utility or risk regression, making their separate effects imprecise.
Multinomial Logit Model
Multinomial logit model (MNL) is a random utility choice model used to estimate preference weights from DCE data, assuming IID extreme value errors.
Multiple Imputation
Multiple imputation fills missing costs or QALYs several times with plausible draws, analyses each completed dataset and pools results by Rubin's rules.
Multiple Regression
Multiple regression models one outcome, such as patient cost or QALYs, on two or more explanatory variables, adjusting each coefficient for the others.
Multivariate Meta-Analysis
Multivariate meta-analysis pools study results on two or more correlated outcomes, such as progression-free and overall survival, in a single joint model.
N-of-1 Trial
An N-of-1 trial is a randomised multiple crossover trial in one patient, comparing treatments over repeated periods to guide that patient's treatment.
Named Entity Recognition
Named entity recognition (NER) is a natural language processing task that finds and labels names such as drugs or diagnoses in clinical notes and papers.
Narrative Review
A narrative review is a literature review that summarises research on a topic without a prespecified, reproducible search, selection and appraisal method.