Probability distributions or point predictions? Survey forecasts of US output growth and inflation

B-Tier
Journal: International Journal of Forecasting
Year: 2014
Volume: 30
Issue: 1
Pages: 99-117

Score contribution per author:

2.018 = (α=2.02 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We consider whether survey respondents’ probability distributions, reported as histograms, provide reliable and coherent point predictions, when viewed through the lens of a Bayesian learning model. We argue that a role remains for eliciting directly-reported point predictions in surveys of professional forecasters.

Technical Details

RePEc Handle
repec:eee:intfor:v:30:y:2014:i:1:p:99-117
Journal Field
Econometrics
Author Count
1
Added to Database
2026-01-25