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

State Transition ModelSTM, State-Transition Modelling

A general term for a decision-analytic model, such as a Markov model, representing disease progression as movement between defined health states.

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System Dynamics ModelSD Model, System Dynamics Simulation

A modelling approach representing a complex system using stocks, flows, and feedback loops to capture how it evolves through internal dynamics.

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