Expert Based Models: Difference between revisions
From Open Risk Manual
Wiki admin (talk | contribs) No edit summary |
(No difference)
|
Latest revision as of 19:57, 11 March 2024
Definition
Expert Based Models are models such as Expert Scorecards that are more or less based on the direct translation of expert knowledge rather than based on quantitative (statistical) data sources.
Usage
Assuming several independent experts are available, expert models can be developed according to a rigorous process similar to more quantitative models