Probabilistic Sensitivity Analysis

Definitions

Health Economics

  • A technique in cost-effectiveness analysis and decision analysis in which probability distributions are created for each factor about which there is uncertainty. By simulating the consequences of random drawings from these distributions, it enables judgments to be formed about the robustness of decisions in relation to each factor.
  • acronymPSA
    (written as probabilistic sensitivity analysis)
  • (Also prostate-specific antigen.)
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