Thursday 19 April 2018, 12.15PM to 1.15pm
Speaker(s): Professor Alexander McNeil, The York Management School, University of York
Abstract:
Background: In recent years in the UK there has been an interest in applying actuarial approaches to the modelling and mitigating of uncertainty in HTA. So far progress has been limited, which might result from actuaries and health economists not fully understanding and appreciating the perspectives and methods of each other. This seminar aims to build this understanding and appreciation. In addition to the main topic of this seminar, below, there will be discussion of other research areas of mutual interest.
Building joint models of random quantities - why correlation is not enough:
If X and Y are two random outcomes and we know something about their marginal distributions and have an estimate of their correlation/covariance, how do we say something about their joint distribution and, in particular, the joint probability that both X and Y are large? Can we say something about the uncertainty in the distribution of their sum X+Y or any other functional f(X,Y) of interest? The issue is that the joint model is not fully specified and there will be infinitely many joint models that satisfy the constraints. How do we pick one of these joint models to obtain a conservative assessment of risk? Much insight can be provided by considering different copulas and the topic lends itself to visualisation.
Location: ARRC Auditorium A/RC/014
Who to contact
For more information on these seminars, contact:
Alfredo Palacios
alfredo.palacios@york.ac.uk
Shainur Premji
shainur.premji@york.ac.uk
If you are not a member of University of York staff and are interested in attending a seminar, please contact
alfredo.palacios@york.ac.uk
or
shainur.premji@york.ac.uk
so that we can ensure we have sufficient space
Economic evaluation seminar dates
- Thursday 17 January
Edward Cox, CHE, University of York- Thursday 21 February
Sebastian Hinde, CHE, University of York- Thursday 21 March
Alessandro Grosso, CHE, University of York