Measuring the Cost of Forecast Error

Steve Morlidge

Foresight: The International Journal of Applied Forecasting, 2023, issue 68, 31-35

Abstract: Based on 20 years in business finance trying to model the impact of decisions, Steve Morlidge explores the formidable complexities involved in calculating the cost of forecast error. Rather than explicitly measuring costs, he proposes a proxy for cost based on relevant features of forecast error such as bias and avoidable error. Copyright International Institute of Forecasters, 2023

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:for:ijafaa:y:2023:i:68:p:31-35

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