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• W2913633959 abstract "Model risk has a huge impact on any risk measurement procedure and its quantification is therefore a crucial step. In this paper, we introduce three quantitative measures of model risk when choosing a particular reference model within a given class: the absolute measure of model risk, the relative measure of model risk and the local measure of model risk. Each of the measures has a specific purpose and so allows for flexibility. We illustrate the various notions by studying some relevant examples, so as to emphasize the practicability and tractability of our approach." @default.
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• W2913633959 date "2015-04-01" @default.
• W2913633959 modified "2023-10-16" @default.
• W2913633959 title "Assessing financial model risk" @default.
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• W2913633959 doi "https://doi.org/10.1016/j.ejor.2014.10.032" @default.
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