Economic Evaluations with Agent-Based Modelling: An Introduction
2015
This tutorial presents the basic concepts and important features of agent-based models, and provides a case study of a simple cost effectiveness analysis of screening for an infectious disease. Agent-based modelling (ABM) is a relatively new technique, which overcomes some of the limitations of other methods commonly used for economic evaluations. These limitations include linearity, homogeneity and stationarity. Agents in ABMs are autonomous entities, who interact with each other and with the environment. ABMs provide an inductive or ‘bottom-up’ approach, i.e. individual-level behaviors define system-level components. ABMs have a unique property to capture emergence phenomena that otherwise cannot be predicted by the combination of individual-level interactions. The authors provide their model, developed using an open-source software program, NetLogo, and discuss software, resources, challenges and future research opportunities.
Economic Evaluations with Agent-Based Modelling: An Introduction
Source:
Chhatwal J, He T. Economic Evaluations with Agent-Based Modelling: An Introduction. PharmacoEconomics 2015; 33 (5): 423-433. http://dx.doi.org/10.1007/s40273-015-0254-2