The value of feedback in forecasting competitions

The value of feedback in forecasting competitions

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Article ID: iaor20115863
Volume: 27
Issue: 3
Start Page Number: 845
End Page Number: 849
Publication Date: Jul 2011
Journal: International Journal of Forecasting
Authors: ,
Keywords: feedback
Abstract:

In this paper we challenge the traditional design used for forecasting competitions. We implement an online competition with a public leaderboard that provides instant feedback to competitors who are allowed to revise and resubmit forecasts. The results show that feedback significantly improves forecasting accuracy.

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