JUDGMENTAL CALIBRATION OF MULTIVARIABLE CONSTANT ELASTICITY MODELS - SCENARIO GENERATION

Authors
BENNAVAIL JC CHEN Z SINGH MG
Citation
Jc. Bennavail et al., JUDGMENTAL CALIBRATION OF MULTIVARIABLE CONSTANT ELASTICITY MODELS - SCENARIO GENERATION, Information and decision technologies, 18(6), 1993, pp. 415-425
Citations number
2
Categorie Soggetti
System Science","Operatione Research & Management Science
Journal title
Information and decision technologies → ACNP
ISSN journal
09230408
Volume
18
Issue
6
Year of publication
1993
Pages
415 - 425
Database
ISI
SICI code
0923-0408(1993)18:6<415:JCOMCE>2.0.ZU;2-0
Abstract
In this paper we describe an efficient approach to model calibration f or multivariable constant elasticity models using judgemental estimati on. In this approach, computer-generated random scenarios are used to extract the expert knowledge of managers. The paper outlines a methodo logy for this scenario generation which has statistically desirable pr operties as far as the subsequent model calibration is concerned. The paper also provides some examples of the scenarios generated for diffe rent applications of multivariable constant elasticity models.