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.
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References listed on IDEAS
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- Zellner, Arnold & Palm, Franz, 1974.
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- ZELLNER, Arnold & PALM, Franz, . "Time series analysis and simultaneous equation econometric models," CORE Discussion Papers RP 173, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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