We consider a supply chain consisting of one supplier selling through one retailer who faces a newsvendor problem. There is a positive probability that the retailer is capable of gaining improved demand information through costly forecasting. The supplier would like to induce the retailer to forecast and share that information. Restricting the retailer’s ability to return unsold product would i...

Recently a new approach was introduced in lightning protection incorporating the use of forecasting tools and preventive actions into one lightning protection system, the preventive lightning protection. The key feature of this protection system is that the hazard forecasting methods are planned according to the available preventive actions. The appropriate use of forecasting is very important ...

Financial time series forecasting is a popular application of machine learning methods. Previous studies report that advanced forecasting methods predict price changes in financial markets with high accuracy and that profit can be made trading on these predictions. However, financial economists point to the informational efficiency of financial markets, which questions price predictability and ...

In a comment to our article entitled ‘‘Forecasting Pharmaceutical Prices for Economic Evaluations When There Is No Market: A Review’’, which was recently published in PharmacoEconomics Open [1], Holko stated that marketspecific aspects could affect efficiency of forecasting price using the price of a close substitute [2]. We thank the author for the comment on our article and agree that there a...

[//121] The Delphi technique of aggregating the forecasts of a number of experts on multidisciplinary issues/1/ is a recent development in long-range forecasting. By sequentially polling the experts' opinions, interspersed with feedback of information on the just-previous poll to the experts, consensus is generated. Meanwhile, anonymity is guaranteed in the polling procedures so that social psy...

This study investigates the performance of combination forecasts in comparison to individual forecasts. The empirical study focuses on the UK outbound leisure tourism demand for the USA. The combination forecasts are based on the competing forecasts generated from seven individual forecasting techniques. The three combination methods examined in this study are: the simple average combination me...

Developing reliable estimates of streamflow prediction are crucial for water resources management and flood forecasting purposes. The objectives of this study are to investigate the potential of support vector machines (SVM) model for streamflow forecasting at ungaged sites, and to compare its performance with other statistical method of multiple linear regression (MLR). Three quantitative stan...