EE127 Evidence and Uncertainty in an Iterative Decision-Making Framework

Abstract

Decision makers frequently face decisions about optimal resource allocation. A model-based economic evaluation is often used to guide decision makers in their choices by systematically evaluating the magnitude and tradeoffs of the expected health effects and costs of decision options considered. To properly structure the decision-making process, there is a need for a coherent framework that formalizes the overarching iterative steps of model-based decision-making.