๐”– Bobbio Scriptorium
โœฆ   LIBER   โœฆ

Parametric modelling of cost data: some simulation evidence

โœ Scribed by Andrew Briggs; Richard Nixon; Simon Dixon; Simon Thompson

Publisher
John Wiley and Sons
Year
2005
Tongue
English
Weight
117 KB
Volume
14
Category
Article
ISSN
1057-9230

No coin nor oath required. For personal study only.

โœฆ Synopsis

Recently, commentators have suggested that the distributional form of cost data should be explicitly modelled to gain efficiency in estimating the population mean. We perform a series of simulation experiments to evaluate the usual sample mean and the mean estimator of a lognormal distribution, in the context of both theoretical distributions and three large empirical datasets. The sample mean is always unbiased, but is somewhat less efficient when the population distribution is truly lognormal. However the lognormal estimator can perform appallingly when the true distribution is not lognormal. In practical situations, where the true distribution is unknown, the sample mean generally remains the estimator of choice, especially when limited sample size prohibits detailed modelling of the cost data distribution.

๐Ÿ“œ SIMILAR VOLUMES

Comparison of parametric and non-paramet
Comparison of parametric and non-parametric survival methods using simulated clinical data
โœ John W. Gamel; Robert L. Vogel ๐Ÿ“‚ Article ๐Ÿ“… 1997 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 232 KB

We derived three parametric survival models (the log-normal, log logit, and Weibull) from the clinical data of chemotherapy trials for stage II breast cancer. We then used these models to generate simulated survival data, which we analysed using both parametric (log-normal) and non-parametric (logra

A theoretical model of adolescent suicid
A theoretical model of adolescent suicide and some evidence from US data
โœ Vijay K. Mathur; Donald G. Freeman ๐Ÿ“‚ Article ๐Ÿ“… 2002 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 176 KB

## Abstract Suicide rates for adolescents have doubled since 1970 and tripled since 1960, even as rates for other age groups have declined. Using a Beckerโ€type model of household production and consumption, we demonstrate conditions under which utility maximizing parents allocate time away from tim

The role of simulation in modelling spat
The role of simulation in modelling spatially correlated data
โœ N. H. Augustin; M. A. Mugglestone; S. T. Buckland ๐Ÿ“‚ Article ๐Ÿ“… 1998 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 389 KB ๐Ÿ‘ 2 views

Three approaches to modelling spatial data in which simulation plays a vital role are described and illustrated with examples. The ยฎrst approach uses ยฏexible regression models, such as generalized additive models, together with locational covariates to ยฎt a surface to spatial data. We show how the b

Logistic transmission modeling of simula
Logistic transmission modeling of simulated data
โœ Dr. John B. Harley; Kathy L. Moser; Barbara R. Neas ๐Ÿ“‚ Article ๐Ÿ“… 1995 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 386 KB

A nonparametric method for linkage analysis has been developed and applied to the Problem 1 data set of the Genetic Analysis Workshop 9. Basically, the univariate matched pair strategy of the transmission disequilibrium test has been adapted to multivariate modeling using the conditional logistic fu

Constructing confidence intervals for co
Constructing confidence intervals for cost-effectiveness ratios: an evaluation of parametric and non-parametric techniques using Monte Carlo simulation
โœ Andrew H. Briggs; Christopher Z. Mooney; David E. Wonderling ๐Ÿ“‚ Article ๐Ÿ“… 1999 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 176 KB ๐Ÿ‘ 2 views

The statistic of interest in most health economic evaluations is the incremental cost-e!ectiveness ratio. Since the variance of a ratio estimator is intractable, the health economics literature has suggested a number of alternative approaches to estimating con"dence intervals for the cost-e!ectivene