Description
Compare entryValue times duration with trapezoidal entry/exit value times duration, discounting that trapezoid at the cycle midpoint.
Health-economic utility models combine time with a supplied valuation scale. The reference anchors, duration units, survival basis, and discount timing determine the interpretation of each utility-year contribution.
Compare entryValue times duration with trapezoidal entry/exit value times duration, discounting that trapezoid at the cycle midpoint.
When to use this tool
Use Health Economic Cycle Half Correction Term when you need one explicit utility or modeled outcome component.
How to use the tool and how it works
- Enter entryValue, exitValue, cycleYears, discountRate, cycleStartYear. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read uncorrectedEntryValue, halfCycleValue, discountedHalfCycleValue. Use the output convention below.
Require nonnegative cycleYears and cycleStartYear and discountRate above -1. Compare entryValue times duration with trapezoidal entry/exit value times duration, discounting that trapezoid at the cycle midpoint.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| entryValue | Entry Value | Required. Finite number. |
| exitValue | Exit Value | Required. Finite number. |
| cycleYears | Cycle Years | Required. Finite number; minimum 0. |
| discountRate | Annual discount rate as a fraction under the stated model. | Required. Finite number; strictly above -1. |
| cycleStartYear | Cycle Start Year | Required. Finite number; minimum 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| uncorrectedEntryValue | Uncorrected Entry Value | Required. Finite number. |
| halfCycleValue | Half Cycle Value | Required. Finite number. |
| discountedHalfCycleValue | Discounted Half Cycle Value | Required. Finite number. |
{
"input": {
"entryValue": 100,
"exitValue": 80,
"cycleYears": 1,
"discountRate": 0,
"cycleStartYear": 2
},
"output": {
"uncorrectedEntryValue": 100,
"halfCycleValue": 90,
"discountedHalfCycleValue": 90
}
}Limitations and assumptions
- Values must share a per-year reward basis; this one-cycle correction does not simulate state transitions, establish a continuous-time truth, or select a discount policy.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Check the complete evaluation model and source valuations; arithmetic utility values are not individual clinical assessments or judgments of personal worth.
References
Similar or alternative tools
- Discount Timing Half Cycle Factor
Use (index+0.5) years-of-cycle for midpoint or (index+1) for end timing and return the annual discount factor.
- QALY One Interval Trapezoid Term
Average startUtility and endUtility and multiply by durationYears for qalys.