Cohort Simulations with Variance Reduction Techniques

cohort simulations that reduce the number of simulation replications required to achieve a given degree of preci-sion for various output measures. Known as variance reduction techniques, they are often used in industrial engineering and operations research models, but they are seldom used in medical models. However, most MC cohort simulations are well suited to the implementation of these techniques. The authors discuss the cost of implementa-tion versus the benefit of reduced replications. Key words: Monte Carlo cohort simulations; variance reduction techniques; estimation; policy comparison; common ran-dom numbers; antithetic variates. (Med Decis Makin