Merging models and experts
It is argued that for specific forecast settings there must exist an optimally-sized model with forecasts that only need occasional adjustments by experts. The argument is built on recent evidence on the interaction between models and experts. A consequence of this is that the future research agenda should involve more interaction between researchers in model-based forecasting and those who are engaged in judgemental forecasting research.
|Keywords||experts, forecasting models, forecasting research|
|Persistent URL||dx.doi.org/10.1016/j.ijforecast.2007.12.002, hdl.handle.net/1765/13356|
|Series||ERIM Article Series (EAS) , Econometric Institute Reprint Series|
|Journal||International Journal of Forecasting|
Franses, Ph.H.B.F. (2008). Merging models and experts. International Journal of Forecasting, 24(1), 31–33. doi:10.1016/j.ijforecast.2007.12.002