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Using judgment to select and adjust forecasts from statistical models

delete2020-08-01
delete25
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OA
AI
S
Shari De Baets *
N
Nigel Harvey
DOI:10.1016/j.ejor.2020.01.028delete
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摘要

摘要

En 中文
Forecasting support systems allow users to choose different statistical forecasting methods. But how well do they make this choice? We examine this in two experiments. In the first one (N=191), people selected the model that they judged to perform the best. Their choice outperformed forecasts made by averaging the model outputs and improved with a larger difference in quality between models and a lower level of noise in the data series. In a second experiment (N= 161), participants were asked to make a forecast and were then offered advice in the form of a model forecast. They could then re-adjust their forecast. Final forecasts were more influenced by models that made better forecasts. As forecasters gained experience, they followed input from high-quality models more readily. Thus, both experiments show that forecasters have ability to use and learn from visual records of past performance to select and adjust model-based forecasts appropriately. Crown Copyright (C) 2020 Published by Elsevier B.V. All rights reserved.
Keyword:
Forecasting
Judgmental selection
Judgmental adjustment
Forecast support systems
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期刊

European Journal of Operational Research 封面图
European Journal of Operational Research
IF:
6
论文数:
2.2W
被引数:
6.4W

机构

G
Ghent University
学者数:
5.2W
论文数: 4.5W
被引数: 5.5W
U
university of london
学者数:
21.5W
论文数: 19.7W
被引数: 305
引用论文

引用论文

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err2006-01-01
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errOAAI
errLawrence, Michael; Goodwin, Paul; O'Connor, Marcus; Onkal, Dilek
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