Economic Modelling

Terms for building and checking decision models, including decision trees, Markov models and simulation methods.

  • Topic: Economic Modelling
  • 40 terms
  • Editor reviewed

2 terms

Background MortalityBackground Hazard, General-Population Hazard, Baseline Population Hazard

The rate of death from causes unrelated to the disease being studied, applied within a model alongside any additional disease-specific mortality risk.

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Base CaseBase-Case Scenario, Central Estimate

The set of central, best-estimate inputs used to produce a model's primary reported results, against which sensitivity analysis is later tested.

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