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Example decision curve analysis graph with two predictors. A decision curve analysis graph is drawn by plotting threshold probability on the horizontal axis and net benefit on vertical axis, illustrating the trade-offs between benefit (true positives) and harm (false positives) as the threshold probability (preference) is varied across a range of reasonable threshold probabilities.
Deadweight loss. In economics, deadweight loss is the loss of societal economic welfare due to production/consumption of a good at a quantity where marginal benefit (to society) does not equal marginal cost (to society) – in other words, there are either goods being produced despite the cost of doing so being larger than the benefit, or ...
The original form of the auction algorithm is an iterative method to find the optimal prices and an assignment that maximizes the net benefit in a bipartite graph, the maximum weight matching problem (MWM). [2][3] This algorithm was first proposed by Dimitri Bertsekas in 1979. The ideas of the auction algorithm and ε-scaling [1] are also ...
Cost–benefit analysis (CBA), sometimes also called benefit–cost analysis, is a systematic approach to estimating the strengths and weaknesses of alternatives.It is used to determine options which provide the best approach to achieving benefits while preserving savings in, for example, transactions, activities, and functional business requirements. [1]
Social discount rate (SDR) is the discount rate used in computing the value of funds spent on social projects. Discount rates are used to put a present value on costs and benefits that will occur at a later date. Determining this rate is not always easy and can be the subject of discrepancies in the true net benefit to certain projects, plans ...
A benefit–cost ratio [1] (BCR) is an indicator, used in cost–benefit analysis, that attempts to summarize the overall value for money of a project or proposal. A BCR is the ratio of the benefits of a project or proposal, expressed in monetary terms, relative to its costs, also expressed in monetary terms.
The incremental cost-effectiveness ratio (ICER) is a statistic used in cost-effectiveness analysis to summarise the cost-effectiveness of a health care intervention. It is defined by the difference in cost between two possible interventions, divided by the difference in their effect. It represents the average incremental cost associated with 1 ...
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