For the risk analyst, subjectivism is a fact of life. Each model one builds is only an approximation of the real world. Decisions about the structure and acceptable accuracy of the risk analyst's model are very subjective. Added to all this, the risk analyst must very often rely on subjective estimates for many model inputs, frequently without any data to back them up.Bottomline, subjective judgments matter, even in quantitative risk analysis.
Lists: Nonmatrix data structures in SAS/IML
1 hour ago