Shen, Zhiwei; Odening, Martin; Okhrin, Ostap - Agricultural and Applied Economics Association - AAEA - 2013
hinders its implementation by forcing insurers to charge higher premiums. Expert knowledge has been considered a valuable … information source to augment limited data in insurance pricing. This article investigates whether the use of expert knowledge can … combination of scarce data and expert knowledge, to estimate the risk parameter and buffer load. In addition, a benchmark for the …