Before revision:  This measure allows comparing different products and models (pricing hypothesis) under a homogeneous framework and conclude which one is the best. The model risk measure is defined in terms of the expected value and standard deviation of the loss given by the hedging strategy at a given time horizon .
After revision:  This measure allows comparing different products and models (pricing hypothesis) under a homogeneous framework which allows concluding which model is the closest to the reference. The relative model risk measure is defined in terms of the expected value and standard deviation of the loss given by the hedging strategy at a given time horizon .