discount_value: A function to calculate the discounted value of future costs...

In tatooheene: Technology Appraisal Toolbox for Health Economic Evaluations in the Netherlands

A function to calculate the discounted value of future costs or effects

Description

A function to calculate the discounted value of a future costs or effects based on the in paragraph 2.6.1.2 of the Dutch EE guideline mentioned discount rate and time period

Usage

discount_value(
  current_value,
  discount_rate = 0.03,
  time,
  time_unit = c("years", "months", "weeks", "days"),
  discount_year_one = FALSE
)

Arguments

current_value	The current value.
discount_rate	The discount rate to use for the calculation. Default is 0.03. The guideline stipulates 0.03 for costs and 0.015 for effects.
time	The time at which the future value occurs.
time_unit	The unit of time to use for the calculation. Default is "years", but "months", "weeks", and "days" are also valid options.
discount_year_one	Logical value indicating whether to discount the first year as well. Default is FALSE.

Value

A numeric value of the discounted future value.

Examples

# Example usage of the discount_value function
# Calculate the discounted value of 100 after 5 years, the first year is not discounted
discount_value(current_value = 100, discount_rate = 0.03, time = 5, time_unit = "years")

# Calculate the discounted value of 100 after 60 months, the first year is not discounted
discount_value(current_value = 100, discount_rate = 0.03, time = 60, time_unit = "months")

# Calculate the discounted value of 100 after 365 days, the first year is discounted
discount_value(current_value = 100, time = 365, time_unit = "days", discount_year_one = TRUE)

tatooheene documentation built on April 3, 2025, 7:11 p.m.