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Experts (managers) may have domain-specific knowledge that is not included in a statistical model and that can improve short-run and long-run forecasts of SKU-level sales data. While one-step-ahead forecasts address the conditional mean of the variable, model-based forecasts for longer horizons have a tendency to convert to the unconditional mean of a time(More)
Duisenberg school of finance is a collaboration of the Dutch financial sector and universities, with the ambition to support innovative research and offer top quality academic education in core areas of finance. Abstract We propose a new and simple methodology to estimate the loss function associated with experts' forecasts. Under the assumption of(More)
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