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Credibility theory is a branch of actuarial mathematics concerned with determining risk premiums. [1] To achieve this, it uses mathematical models in an effort to forecast the ( expected ) number of insurance claims based on past observations.
Bühlmann model. In credibility theory, a branch of study in actuarial science, the Bühlmann model is a random effects model (or "variance components model" or hierarchical linear model) used to determine the appropriate premium for a group of insurance contracts. The model is named after Hans Bühlmann who first published a description in 1967.
Credibility comprises the objective and subjective components of the believability of a source or message. Credibility dates back to Aristotle theory of Rhetoric. Aristotle defines rhetoric as the ability to see what is possibly persuasive in every situation. He divided the means of persuasion into three categories, namely Ethos (the source's ...
In qualitative research, a member check, also known as informant feedback or respondent validation, is a technique used by researchers to help improve the accuracy, credibility, validity, and transferability (also known as applicability, internal validity, [1] or fittingness) of a study. [2] There are many subcategories of members checks ...
BLUF (communication) BLUF (bottom line up front) [1] is the practice of beginning a message with its key information (the "bottom line"). This provides the reader with the most important information first. [2] By extension, that information is also called a BLUF. It differs from an abstract or executive summary in that it is simpler and more ...
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...
Elaboration likelihood model. The elaboration likelihood model (ELM) of persuasion [1] is a dual process theory describing the change of attitudes. The ELM was developed by Richard E. Petty and John Cacioppo in 1980. [2] The model aims to explain different ways of processing stimuli, why they are used, and their outcomes on attitude change. The ...
Confirmation bias (also confirmatory bias, myside bias, [a] or congeniality bias[2]) is the tendency to search for, interpret, favor, and recall information in a way that confirms or supports one's prior beliefs or values. [3] People display this bias when they select information that supports their views, ignoring contrary information, or when ...