Quantitative Model
From Open Risk Manual
Definition
Quantitative Model denotes very broadly any quantitative (mathematical) representation or Simulation of circumstances, factors, values and their relationships.
Usage
- Quantitative models used in the context of Risk Management are usually denoted Quantitative Risk Model and the sub-discipline denoted Quantitative Risk Management
- Each sector may also employ quantitative models that are not directly developed for the purposes of risk management, e.g. Financial Models
