EconPapers    
Economics at your fingertips  
 

Expert knowledge elicitation using item response theory

J. A. A. Andrade and J. P. Gosling

Journal of Applied Statistics, 2018, vol. 45, issue 16, 2981-2998

Abstract: In an expert knowledge elicitation exercise, experts face a carefully constructed list of questions that they answer according to their knowledge. The elicitation process concludes when a probability distribution is found that adequately captures the experts' beliefs in the light of those answers. In many situations, it is very difficult to create a set of questions that will efficiently capture the experts' knowledge, since experts might not be able to make precise probabilistic statements about the parameter of interest. We present an approach for capturing expert knowledge based on item response theory, in which a set of binary response questions is proposed to the expert, trying to capture responses directly related to the quantity of interest. As a result, the posterior distribution of the parameter of interest will represent the elicited prior distribution that does not assume any particular parametric form. The method is illustrated by a simulated example and by an application involving the elicitation of rain prophets' predictions for the rainy season in the north-east of Brazil.

Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/02664763.2018.1450365 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:japsta:v:45:y:2018:i:16:p:2981-2998

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CJAS20

DOI: 10.1080/02664763.2018.1450365

Access Statistics for this article

Journal of Applied Statistics is currently edited by Robert Aykroyd

More articles in Journal of Applied Statistics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2025-03-20
Handle: RePEc:taf:japsta:v:45:y:2018:i:16:p:2981-2998