Is eliciting dependency worth the effort? A study for the multivariate Poisson-Gamma probability model

We examine whether it is worthwhile eliciting subjective judgements to account for dependency in a multivariate Poisson-Gamma probability model. The challenge of estimating reliability during product design motivated the choice model class. For we adopt an empirical Bayes methodology present estimator with improved accuracy. A simulation study investigates estimation error this different degrees and examines impact being mis-specified when assessed by judgement. Our theoretical findings give analysts insights about value dependency.