While robust data is preferred when parameterizing economic models, this information is not always available. For instance, it may be unclear the degree to which clinical trial results would translate to the real world. Or, clinical trial results may need to be extrapolated beyond the time period of the trial. Or, there may simply be no data available for certain parameters of interest. In many cases, modelers turn to expert elicitation to help them parameterize the model. In some cases this is done informally (e.g., interviews); in other cases, structured expert elicitation is used (e.g., Delphi Panel, SHELF method).
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