Difference between revisions of "Representativeness"
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Latest revision as of 13:57, 4 August 2019
Definition
Representativeness is an attribute of Risk Data, relevant in the context of developing risk models. It denotes the degree to which the historical data set offers a faithful representation of the risk phenomenon that is being modelled.
The concept is linked to, but is more loosely use in practise, than the representativeness heuristic of Kahneman and Tversky