 Markov Influence DiagramsFrancisco J. DÃez, Mar Yebra, Iñigo Bermejo, Miguel A. Palacios-Alonso, Manuel Arias Calleja, Manuel Luque and Jorge Pérez-MartÃn Medical Decision Making, 2017, vol. 37, issue 2, 183-195 Abstract: Markov influence diagrams (MIDs) are a new type of probabilistic graphical model that extends influence diagrams in the same way that Markov decision trees extend decision trees. They have been designed to build state-transition models, mainly in medicine, and perform cost-effectiveness analyses. Using a causal graph that may contain several variables per cycle, MIDs can model various patient characteristics without multiplying the number of states; in particular, they can represent the history of the patient without using tunnel states. OpenMarkov, an open-source tool, allows the decision analyst to build and evaluate MIDs—including cost-effectiveness analysis and several types of deterministic and probabilistic sensitivity analysis—with a graphical user interface, without writing any code. This way, MIDs can be used to easily build and evaluate complex models whose implementation as spreadsheets or decision trees would be cumbersome or unfeasible in practice. Furthermore, many problems that previously required discrete event simulation can be solved with MIDs; i.e., within the paradigm of state-transition models, in which many health economists feel more comfortable. Keywords: Markov models; influence diagrams; cost-effectiveness analysis; outcomes research (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sae:medema:v:37:y:2017:i:2:p:183-195 Access Statistics for this article More articles in Medical Decision Making |
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