Is eliciting dependency worth the effort? A study for the multivariate Poisson-Gamma probability model
2021 ◽
pp. 1748006X2110594
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We examine whether it is worthwhile eliciting subjective judgements to account for dependency in a multivariate Poisson-Gamma probability model. The challenge of estimating reliability during product design motivated the choice of model class. For the multivariate Poisson-Gamma model we adopt an empirical Bayes methodology to present an estimator with improved accuracy. A simulation study investigates the estimation error of this estimator for different degrees of dependency and examines the impact of dependency being mis-specified when assessed by subjective judgement. Our theoretical and simulation findings give analysts insights about the value of eliciting dependency.
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2012 ◽
Vol 2012
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pp. 1-18
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2015 ◽
Vol 2015
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pp. 1-13
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2014 ◽
Vol 536-537
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pp. 1431-1434
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