Multi-way sensitivity analysis is a technique that accounts for the fact that more than one parameter in a model is uncertain and the output of the model is sensitive to the choice of value for each of these parameters (commonly the key parameters in the model). During multi-way sensitivity analysis the value of each parameter is changed simultaneously, and the impact that this has on the model output is investigated. This technique is limited to investigating the impact of changing relatively few (2 to 5) parameters simultaneously, given that the number of possible combinations of parameter values has the potential to get very large.
How to cite: Multi-way Sensitivity Analysis [online]. (2016). York; York Health Economics Consortium; 2016. https://yhec.co.uk/glossary/multi-way-sensitivity-analysis/