Method evidence record

Stochastic Markov Model

A Stochastic Markov Model is a simulation technique that represents a system as a set of mutually exclusive health or decision states, moves a cohort (or individual agents) through those states using probabilistically sampled transition parameters, and aggregates outcomes across thousands of Monte Carlo iterations to produce full probability distributions over costs, outcomes, or rankings rather than single point estimates.

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Stochastic Markov Model — Probabilistic State-Transition Simulation with Uncertainty Propagation

Taxonomic method record · process-pipeline / simulation

Sonnenberg, F. A., & Beck, J. R. (1993). Markov models in medical decision making: A practical guide. Medical Decision Making, 13(4), 322–338. · DOI 10.1177/0272989X9301300409
Briggs, A., Sculpher, M., & Claxton, K. (2006). Decision Modelling for Health Economic Evaluation. Oxford University Press. · ISBN 9780198526629

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Related methods

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Same method familyDiscrete-Event Simulationmachine-suggested · Relational suggestion, not evidence.Taxonomic bucketMarkov Modelmachine-suggested · Relational suggestion, not evidence.Same method familyMicrosimulationmachine-suggested · Relational suggestion, not evidence.See alsoMONTE-CARLO-SIMULATIONmachine-suggested · Relational suggestion, not evidence.See alsoSENSITIVITY-ANALYSISmachine-suggested · Relational suggestion, not evidence.Taxonomic bucketStochastic Dynamic Programmingmachine-suggested · Relational suggestion, not evidence.