A method for correcting a fracture model of a reservoir includes receiving a seismic signal from seismic events due to a plurality of stimulated reservoir stages to provide detected seismic event information and estimating a number of undetected seismic events and a magnitude for each of the undetected seismic events to provide undetected seismic event information for each stage. The detected seismic event information and the undetected seismic event information provide corrected seismic event information for each stage. The method further includes calculating a scaling factor for each stage using a scalar property of the corresponding stage and a reference stage scalar property, applying the scaling factor for each stage to the corrected seismic event information to provide scaled seismic event information for each stage, and correcting the fracture model with the scaled seismic event information for each stage to provide a corrected fracture model.