Uncertainty & Value of Information

Terms for describing and quantifying uncertainty in economic evaluations and for valuing further research.

  • Topic: Uncertainty & Value of Information
  • 37 terms
  • Editor reviewed

1 term

First-Order UncertaintyStochastic Uncertainty, Individual-Level Variability

Uncertainty arising from variation among individual patients within a modelled population, unlike parameter uncertainty concerning imperfect knowledge of a true average value.

Dictionary