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A Comparative Analysis Of The Forecasting Ability Of Classic Econometric And Fuzzy Models

Author

Listed:
  • Profillidis, V.
  • Botzoris, G.

    (Democritus University of Thrace)

Abstract

The present paper analyzes the accuracy of forecasting ability that can be reached by the use of fuzzy techniques in comparison to classic econometric models. Following a brief presentation of the fuzzy technique, a revue of existing methods and models for forecasting rail passenger demand is presented. Based on data of rail passenger demand of Greek Railways, the parameters affecting demand are defined with the use of the appropriate statistical controls. Using these para-meters, econometric and fuzzy models are developed. The forecasting ability of each model and the reduction of ambiguity are checked as well as their range and application conditions.

Suggested Citation

  • Profillidis, V. & Botzoris, G., 2005. "A Comparative Analysis Of The Forecasting Ability Of Classic Econometric And Fuzzy Models," Fuzzy Economic Review, International Association for Fuzzy-set Management and Economy (SIGEF), vol. 0(1), pages 35-46, May.
    • Handle: RePEc:fzy:fuzeco:v:x:y:2005:i:1:p:35-46
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    More about this item

    Keywords

    demand; econometric; forecast; fuzzy; model; transportation planning;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods

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