Eco-RETINA: a green flexible algorithm for model building

Javier Capilla, Alba Alcaraz, Angel Valarezo Unda, García-Hiernaux, Alfredo and Pérez Amaral, Teodosio ()
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Javier Capilla: Instituto Complutense de Análisis Económico (ICAE), Universidad Complutense de Madrid (Spain).
Alba Alcaraz: Instituto Complutense de Análisis Económico (ICAE), Universidad Complutense de Madrid (Spain).
García-Hiernaux, Alfredo: Instituto Complutense de Análisis Económico (ICAE), Universidad Complutense de Madrid (Spain).
Pérez Amaral, Teodosio: Instituto Complutense de Análisis Económico (ICAE), Universidad Complutense de Madrid (Spain).
Authors registered in the RePEc Author Service: Teodosio Pérez Amaral

No 2025-01, Documentos de Trabajo del ICAE from Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico

Abstract: Eco-RETINA is an innovative and eco-friendly algorithm explicitly designed for out-of-sample prediction. Functioning as a regression-based flexible approximator, it is linear in parameters but nonlinear in inputs, employing a selective model search to optimize performance. The algorithm adeptly manages multicollinearity while emphasizing speed, accuracy, and environmental sustainability. Its modular and transparent structure facilitates easy interpretation and modification, making it an invaluable tool for researchers in developing explicit models for out-of-sample forecasting. The algorithm generates outputs such as a list of relevant transformed inputs, coefficients, standard deviations, and confidence intervals, enhancing its interpretability.

Keywords: Eco-RETINA; Out-of-sample prediction. (search for similar items in EconPapers)
JEL-codes: C14 C45 C51 C63 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2025
New Economics Papers: this item is included in nep-ecm
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https://hdl.handle.net/20.500.14352/117836

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