Combinations of forecasts: A model-building perspective

Combinations of forecasts: A model-building perspective

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Article ID: iaor1989412
Country: Netherlands
Volume: 8
Start Page Number: 179
End Page Number: 184
Publication Date: Sep 1989
Journal: Operations Research Letters
Authors: ,
Abstract:

A brief summary of recent issues in the theoretical methodology and experimental application of combinations of forecasts is presented. The authors raise questions as to the meaning and interpretation of models that emphasize algebraic combinations of point forecasts minimizing mean squared error without insightful treatment of the different decisions and policies that usually accompany the forecasting context. They conclude by making a strong plea for the role of models that carefully synthesize information on inputs rather than combine forecast outputs of models based on different information sets.

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