BAyeSian Interpretation of Estimates (BASIE) – Healthcare Economist
Imagine that you are a policymaker and an academic researcher shows you evidence for a new health intervention that will dramatically improve health outcomes. He shows you the study results, the estimated impact and a p-value that is less than 0.05. How much credibility should you give to this result? What quantiative approach should you take to determine if the government should recommend using this new health intervention?
One approach for making this decision is the BAyeSian Interpretation of Estimates (BASIE) approach. BASIE was originally proposed in 2019 Mathematica Report (see other relevant papers at the end of this post). BASIE aims to estimate the probability that an intervention will have a meaningful effect, given the impact estimate and prior evidence regarding ...