Face ValiditySurface Validity, Expert-Judgement Validity
A basic, largely subjective judgement of whether a model's structure and assumptions seem reasonable to experts familiar with the disease being modelled.
Economic Modelling
Terms for building and checking decision models, including decision trees, Markov models and simulation methods.
- Topic: Economic Modelling
- 40 terms
- Editor reviewed
Half-Cycle CorrectionHalf-Cycle Adjustment, Mid-Cycle Correction
Half-cycle correction is a within-cycle adjustment in discrete-time state-transition models that approximates time-accruing costs or health effects between recorded state-occupancy endpoints.
Health Economic ModelHealth Economics Model, Cost-Effectiveness Model
A mathematical representation of the costs and health outcomes of alternative interventions over a defined time horizon, used when single-study data are insufficient.
Health StateDescribed State Profile, EQ-5D State
A specific combination of levels across the dimensions measured by a health status instrument, describing a person's condition at a point in time.
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.
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.
Markov AssumptionMarkov Property, Memoryless Assumption
The condition that, given the current modeled state and specified time or covariates, the probability of the next state does not additionally depend on the earlier state history.
Markov Cohort ModelCohort Markov Model, Aggregate Markov Model
A Markov model tracking a hypothetical cohort collectively as proportions across health states over cycles, rather than simulating each patient separately.