A Bayesian approach to sensitivity analysis

Health Econ. 1999 May;8(3):263-8. doi: 10.1002/(sici)1099-1050(199905)8:3<263::aid-hec426>3.0.co;2-s.

Abstract

Sensitivity analysis has traditionally been applied to decision models to quantify the stability of a preferred alternative to parametric variation. In the health literature, sensitivity measures have traditionally been based upon distance metrics, payoff variations, and probability measures. We advocate a new approach based on information value and argue that such an approach is better suited to address the decision-maker's real concerns. We provide an example comparing conventional sensitivity analysis to one based on information value. This article is a US government work and is in the public domain in the United States.

Publication types

  • Research Support, U.S. Gov't, Non-P.H.S.

MeSH terms

  • Bayes Theorem*
  • Cost-Benefit Analysis / statistics & numerical data
  • Decision Support Techniques*
  • Decision Trees
  • Health Services Research / economics
  • Health Services Research / methods*
  • Humans
  • Models, Econometric*
  • Paranasal Sinus Neoplasms / therapy