IDEAS home Printed from https://ideas.repec.org/a/sae/risrel/v227y2013i1p41-54.html
   My bibliography  Save this article

Integrated treatment of model and parameter uncertainties through a Bayesian approach

Author

Listed:
  • Enrique López Droguett
  • Ali Mosleh

Abstract

Bayesian and non-Bayesian approaches have been proposed for treating model uncertainty; in general, model and parameter uncertainties have been tackled as separate domains. This article discusses a Bayesian framework for an integrated assessment of model and parameter uncertainties. The approach accommodates cases involving multiple dependent models, and we also demonstrate that under certain conditions, the model uncertainty assessment approaches known as model averaging and uncertainty-factor are special cases of the proposed formulation. These features are also demonstrated by means of a few examples of interest in the risk and safety domain.

Suggested Citation

  • Enrique López Droguett & Ali Mosleh, 2013. "Integrated treatment of model and parameter uncertainties through a Bayesian approach," Journal of Risk and Reliability, , vol. 227(1), pages 41-54, February.
    • Handle: RePEc:sae:risrel:v:227:y:2013:i:1:p:41-54
    DOI: 10.1177/1748006X12461332
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/1748006X12461332
    Download Restriction: no
    File URL: https://libkey.io/10.1177/1748006X12461332?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Mohamed N. Jouini & Robert T. Clemen, 1996. "Copula Models for Aggregating Expert Opinions," Operations Research, INFORMS, vol. 44(3), pages 444-457, June.
    2. A. John Bailer & Robert B. Noble & Matthew W. Wheeler, 2005. "Model Uncertainty and Risk Estimation for Experimental Studies of Quantal Responses," Risk Analysis, John Wiley & Sons, vol. 25(2), pages 291-299, April.
    3. Enrique López Droguett & Ali Mosleh, 2008. "Bayesian Methodology for Model Uncertainty Using Model Performance Data," Risk Analysis, John Wiley & Sons, vol. 28(5), pages 1457-1476, October.
    4. Piero Baraldi & Enrico Zio, 2010. "A Comparison Between Probabilistic and Dempster‐Shafer Theory Approaches to Model Uncertainty Analysis in the Performance Assessment of Radioactive Waste Repositories," Risk Analysis, John Wiley & Sons, vol. 30(7), pages 1139-1156, July.
    5. Brock, William A. & Durlauf, Steven N. & West, Kenneth D., 2007. "Model uncertainty and policy evaluation: Some theory and empirics," Journal of Econometrics, Elsevier, vol. 136(2), pages 629-664, February.
    6. Robert T. Clemen & Robert L. Winkler, 1993. "Aggregating Point Estimates: A Flexible Modeling Approach," Management Science, INFORMS, vol. 39(4), pages 501-515, April.
    7. Jiang, Xiaomo & Mahadevan, Sankaran, 2007. "Bayesian risk-based decision method for model validation under uncertainty," Reliability Engineering and System Safety, Elsevier, vol. 92(6), pages 707-718.
    8. Hojin Moon & Hyun‐Joo Kim & James J. Chen & Ralph L. Kodell, 2005. "Model Averaging Using the Kullback Information Criterion in Estimating Effective Doses for Microbial Infection and Illness," Risk Analysis, John Wiley & Sons, vol. 25(5), pages 1147-1159, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. das Chagas Moura, Márcio & Azevedo, Rafael Valença & Droguett, Enrique López & Chaves, Leandro Rego & Lins, Isis Didier & Vilela, Romulo Fernando & Filho, Romero Sales, 2016. "Estimation of expected number of accidents and workforce unavailability through Bayesian population variability analysis and Markov-based model," Reliability Engineering and System Safety, Elsevier, vol. 150(C), pages 136-146.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Enrique López Droguett & Ali Mosleh, 2014. "Bayesian Treatment of Model Uncertainty for Partially Applicable Models," Risk Analysis, John Wiley & Sons, vol. 34(2), pages 252-270, February.
    2. Enrique López Droguett & Ali Mosleh, 2008. "Bayesian Methodology for Model Uncertainty Using Model Performance Data," Risk Analysis, John Wiley & Sons, vol. 28(5), pages 1457-1476, October.
    3. Walter W. Piegorsch, 2010. "Translational benchmark risk analysis," Journal of Risk Research, Taylor & Francis Journals, vol. 13(5), pages 653-667, July.
    4. Walter W. Piegorsch & Hui Xiong & Rabi N. Bhattacharya & Lizhen Lin, 2014. "Benchmark Dose Analysis via Nonparametric Regression Modeling," Risk Analysis, John Wiley & Sons, vol. 34(1), pages 135-151, January.
    5. Wang, Xiaoqian & Hyndman, Rob J. & Li, Feng & Kang, Yanfei, 2023. "Forecast combinations: An over 50-year review," International Journal of Forecasting, Elsevier, vol. 39(4), pages 1518-1547.
    6. Signe M. Jensen & Felix M. Kluxen & Christian Ritz, 2019. "A Review of Recent Advances in Benchmark Dose Methodology," Risk Analysis, John Wiley & Sons, vol. 39(10), pages 2295-2315, October.
    7. Steven B. Kim & Scott M. Bartell & Daniel L. Gillen, 2015. "Estimation of a Benchmark Dose in the Presence or Absence of Hormesis Using Posterior Averaging," Risk Analysis, John Wiley & Sons, vol. 35(3), pages 396-408, March.
    8. Hojin Moon & Steven B. Kim & James J. Chen & Nysia I. George & Ralph L. Kodell, 2013. "Model Uncertainty and Model Averaging in the Estimation of Infectious Doses for Microbial Pathogens," Risk Analysis, John Wiley & Sons, vol. 33(2), pages 220-231, February.
    9. Matthew W. Wheeler & A. John Bailer, 2007. "Properties of Model‐Averaged BMDLs: A Study of Model Averaging in Dichotomous Response Risk Estimation," Risk Analysis, John Wiley & Sons, vol. 27(3), pages 659-670, June.
    10. Harriet Namata & Marc Aerts & Christel Faes & Peter Teunis, 2008. "Model Averaging in Microbial Risk Assessment Using Fractional Polynomials," Risk Analysis, John Wiley & Sons, vol. 28(4), pages 891-905, August.
    11. Robert T. Clemen & Robert L. Winkler, 1999. "Combining Probability Distributions From Experts in Risk Analysis," Risk Analysis, John Wiley & Sons, vol. 19(2), pages 187-203, April.
    12. Kan Shao & Jeffrey S. Gift, 2014. "Model Uncertainty and Bayesian Model Averaged Benchmark Dose Estimation for Continuous Data," Risk Analysis, John Wiley & Sons, vol. 34(1), pages 101-120, January.
    13. Jin‐Hua Chen & Chun‐Shu Chen & Meng‐Fan Huang & Hung‐Chih Lin, 2016. "Estimating the Probability of Rare Events Occurring Using a Local Model Averaging," Risk Analysis, John Wiley & Sons, vol. 36(10), pages 1855-1870, October.
    14. Robert B. Noble & A. John Bailer & Robert Park, 2009. "Model‐Averaged Benchmark Concentration Estimates for Continuous Response Data Arising from Epidemiological Studies," Risk Analysis, John Wiley & Sons, vol. 29(4), pages 558-564, April.
    15. Orphanides, Athanasios & Williams, John C., 2008. "Learning, expectations formation, and the pitfalls of optimal control monetary policy," Journal of Monetary Economics, Elsevier, vol. 55(Supplemen), pages 80-96, October.
    16. Plischke, Elmar & Borgonovo, Emanuele, 2019. "Copula theory and probabilistic sensitivity analysis: Is there a connection?," European Journal of Operational Research, Elsevier, vol. 277(3), pages 1046-1059.
    17. Durlauf, Steven N. & Navarro, Salvador & Rivers, David A., 2016. "Model uncertainty and the effect of shall-issue right-to-carry laws on crime," European Economic Review, Elsevier, vol. 81(C), pages 32-67.
    18. In-Koo Cho & Kenneth Kasa, 2015. "Learning and Model Validation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(1), pages 45-82.
    19. Ali Alichi & Kevin Clinton & Charles Freedman & Mr. Ondrej Kamenik & Michel Juillard & Mr. Douglas Laxton & Mr. Jarkko Turunen & Hou Wang, 2015. "Avoiding Dark Corners: A Robust Monetary Policy Framework for the United States," IMF Working Papers 2015/134, International Monetary Fund.
    20. Hansen, Lars Peter & Sargent, Thomas J., 2007. "Recursive robust estimation and control without commitment," Journal of Economic Theory, Elsevier, vol. 136(1), pages 1-27, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:risrel:v:227:y:2013:i:1:p:41-54. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.