Semi-Analytic Models

From Open Risk Manual

Definition

Semi-Analytic Models are mathematical models that cannot be expressed using well known mathematical functions / formulas (Hence more complex than Closed Form Models or Formulas) but which can be evaluated using e.g. some form of Numerical Integration or other computational procedure that does not require Simulation

The main advantage of semi-analytic models is that they do not suffer from sampling error.

See Also

References