2016
DOI: 10.1177/0272989x16650669
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Bayesian Solutions for Handling Uncertainty in Survival Extrapolation

Abstract: This case study casts doubt on the ability of the single best-fit model selected by information criteria statistics to adequately capture model uncertainty. Under this scenario, BMA weighted by posterior probabilities better addressed model uncertainty. However, there is still value in regularly updating health economic models, even where decision uncertainty is low.

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Cited by 17 publications
(18 citation statements)
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“…When the modeler has access to the original data, the standard approach is to fit a variety of parametric models to the data, and, using a goodness-of-fit statistic such as the Akaike and/or Bayesian information criterion, choose the best-fitting model to extrapolate beyond the original data, even though goodness-of-fit to the observed data is not an appropriate test of the fitted model’s ability to extrapolate accurately. Negrin et al [ 34 ] and Latimer [ 16 ] suggest conducting sensitivity analyses by comparing, say, the cost-effectiveness results for the best-fitting model with results based on those that fit less well. This approach shows whether an intervention deemed cost-effective (or not) using the best-fitting model remains so when other models are used and focuses attention on the effects of the extrapolation method on decision uncertainty.…”
Section: Sensitivity Analysesmentioning
confidence: 99%
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“…When the modeler has access to the original data, the standard approach is to fit a variety of parametric models to the data, and, using a goodness-of-fit statistic such as the Akaike and/or Bayesian information criterion, choose the best-fitting model to extrapolate beyond the original data, even though goodness-of-fit to the observed data is not an appropriate test of the fitted model’s ability to extrapolate accurately. Negrin et al [ 34 ] and Latimer [ 16 ] suggest conducting sensitivity analyses by comparing, say, the cost-effectiveness results for the best-fitting model with results based on those that fit less well. This approach shows whether an intervention deemed cost-effective (or not) using the best-fitting model remains so when other models are used and focuses attention on the effects of the extrapolation method on decision uncertainty.…”
Section: Sensitivity Analysesmentioning
confidence: 99%
“…This approach shows whether an intervention deemed cost-effective (or not) using the best-fitting model remains so when other models are used and focuses attention on the effects of the extrapolation method on decision uncertainty. Another approach is to fit parametric models to different subperiods within the observed data to explore the stability of the estimated parameters and, rather than using the single best-fitting model, use Bayesian model averaging to combine models for extrapolation [ 34 ]. Modelers who are limited to the published data will not be able to use these approaches, but should consider widening the range around extrapolated probabilities to reflect the additional uncertainty associated with extrapolation.…”
Section: Sensitivity Analysesmentioning
confidence: 99%
“…To tackle such problems, we adopt the methodology of Bayesian learning of models, which in theory provides reliable estimation of uncertainty intervals [15,16,17]. This approach, however, requires intensive computations, as discussed in [18,19].…”
Section: Introductionmentioning
confidence: 99%
“…However, there is no guarantee that any model, even the best-fit model, will give accurate predictions of the future. 2,6 Alternative approaches to survival curve extrapolation include model-averaging techniques, [7][8][9] hybrid models, 10,11 Bayesian poly-Weibull models, 12,13 cure models, 14 and combination of trial and external data. 15,16 The need for long-term data to perform survival curve extrapolation has been expressed.…”
mentioning
confidence: 99%