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

Individual Patient SimulationIPS, Patient-Level Simulation, Individual-Level Simulation, Microsimulation, Patient-Level Microsimulation, Individual-Based Simulation, Individual Patient Modelling, Individual Patient Modeling

Individual patient simulation is a modelling approach that generates separate patient histories under specified rules and aggregates their costs and health outcomes for a target population.

DictionaryEncyclopaedia
Internal ValidityInternal Correctness, Computational Validity

The extent to which a model's calculations are performed correctly according to its own specified logic, without technical errors.

Dictionary