Subdomain

Economic Modelling

Economic modelling brings evidence from different sources together in a mathematical structure, to estimate the long-term costs and health outcomes of competing options. Models let decision makers compare interventions over a time horizon longer than any trial and show how uncertain the answer is, which matters when a health system must decide whether to fund a treatment.

Topics

• Model types and structures (general)

  Assumption Structure, Continuous Model, Deterministic Model and more

• Decision trees

  Chance Node, Decision Node, Decision Tree and more

• Markov and state-transition models

  Absorbing State, Cohort Model, Cohort Simulation and more

• Partitioned survival models

  Area Under Curve Approach, Partitioned Survival Model

• Discrete event and individual-level simulation

  Agent-Based Model, Arrival Process, Departure Process and more

• Dynamic transmission and system dynamics models

  Compartmental Model, Dynamic Model, Dynamic Transmission Model and more

• Model inputs and parameters

  Anchoring Bias in Elicitation, Competing Risks, Conditional Probability and more

• Survival analysis and extrapolation

  Bathtub Hazard, Cause-Specific Survival, Censoring and more

• Model validation and calibration

  Akaike Information Criterion, Bayesian Information Criterion, Calibration and more

• Uncertainty and sensitivity analysis

  Antithetic Variates, Base Case, Bayesian Analysis CEA and more

• Value of information

  Adaptive Value of Information, ENBS Calculation, Expected Loss and more

• Mathematical and computational methods

  Bayesian Optimisation, Closed-Form Analytical Method, Constrained Optimisation and more

Glossaries

• Economic Modelling glossary
• Uncertainty & Value of Information glossary
• Survival Analysis glossary