Empirical value
Experience are from the past systematically collected data , the basis for a decision to be taken.
General
The term empirical value is linguistically a determinative compound of experience and value and represents the approximate problem solution that can be derived from experience. In particular, observations , best practices , events of all kinds such as damaging events , empirical knowledge , proven success factors , key figures (including business or economic indicators ), personal data , statistics , company data or even soft data serve as data from the past . The more empirical values are available, the more certain are decisions if they also take future developments into account. Then empirical values can become expected values. The assessment of the future development is important because it cannot be certain whether past values will also occur in the future. If, on the other hand, it is to be expected with a high probability that the empirical values will not be repeated in the future, they must be dispensed with. If the stable empirical values are positive, that is, they justify a decision in favor of the riskier alternative, then this is called " basic trust ", if negative empirical values are " basic mistrust ".
Empirical values often lead to so-called rules of thumb , which enable even less experienced people to arrive at a satisfactory solution approximately and with little effort.
application areas
For many decision-making processes, empirical studies, i.e. studies based on experience, are an important instrument for providing the necessary prior knowledge. On the basis of systematically collected empirical values, they can provide information about the buyer and seller markets , about service quality and customer satisfaction , about the effect of advertising strategies and the image of means of transport or tourism regions . For decision-makers , empirical values play a major role when data from the past can also be decisive for a specific decision.
The entire trend extrapolation with its time series analysis for the purpose of forecasting future trend development is based on empirical values . The trend extrapolation “transfers ... the empirical values of the past not statically, but dynamically; it does not extrapolate the state but the change ”. It is used for credit checks in credit institutions , for credit insurances , for country ratings , for supplier evaluation or for other ratings and credit scoring . In the case of credit risk , internal empirical values can be taken into account in accounting with previous credit losses ( IFRS 9 .B.55.51). Insurers may calculate insurance premiums differently for different policyholders because of their religion, disability, age or sexual identity, if these are based on recognized principles of risk-adequate calculation in accordance with Section 20 (2) AGG , in particular on an actuarially determined risk assessment using statistical surveys. "Recognized medical experience or assessment tables from reinsurers " can be used here. For the consequences of accidents , insurers have developed empirical values over many years, which are used to estimate the reduction in earning capacity . When making investment decisions in companies, in the absence of empirical values, the derivation of objective probabilities is problematic, so that subjective probabilities are usually used as a basis.
Experience rate
A court judgment contains a legal error if an actual assumption is absolutely impossible based on life experience and the judge disregards a generally applicable empirical principle . Is allegedly someone with transportation traveled across the country in half an hour from Hamburg to Munich, this is contrary to the experience and the experience of a judge sentence.
Web links
Individual evidence
- ↑ Rolf Diercks, Integrated Landbau , 1994, p. 103
- ↑ Marcus Wiens, Trust in the Economic Theory , 2013, p. 176
- ↑ Wolfgang Götze / Christel Deutschmann / Heike Link, Statistics , 2002, p. 221
- ↑ Gerhart Bruckmann, Trendextrapolation , in: Gerhart Bruckmann (Ed.), Long-term prognoses: Possibilities and methods of long-term prognostics of complex systems, 1978, p. 47
- ↑ BT-Drs. 16/1780 of June 8, 2006, draft law for the implementation of European directives to implement the principle of equal treatment , p. 45
- ↑ Peter Koch, Gabler Insurance Lexicon , 1994, p. 567
- ↑ Hartmut Bieg / Heinz Kußmaul, Investment , 2011, p. 180
- ↑ Rainer Hamm, The Revision in Criminal Matters , 2010, p. 398
