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Probabilistic sensitivity analysis in health economics

Baio, G; Dawid, AP; (2011) Probabilistic sensitivity analysis in health economics. Statistical Methods in Medical Research 10.1177/0962280211419832.

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Abstract

Health economic evaluations have recently become an important part of the clinical and medical research process and have built upon more advanced statistical decision-theoretic foundations. In some contexts, it is officially required that uncertainty about both parameters and observable variables be properly taken into account, increasingly often by means of Bayesian methods. Among these, probabilistic sensitivity analysis has assumed a predominant role. The objective of this article is to review the problem of health economic assessment from the standpoint of Bayesian statistical decision theory with particular attention to the philosophy underlying the procedures for sensitivity analysis.

Type: Article
Title: Probabilistic sensitivity analysis in health economics
DOI: 10.1177/0962280211419832
Publisher version: http://dx.doi.org/10.1177/0962280211419832
Language: English
Keywords: Bayesian decision theory, health economic evaluation, sensitivity analysis
UCL classification: UCL > School of BEAMS
UCL > School of BEAMS > Faculty of Maths and Physical Sciences
URI: http://discovery.ucl.ac.uk/id/eprint/42917
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