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Consensus Forecasts of Corporate Earnings: Analysts' Forecasts and Time Series Methods

Conroy, Robert; Harris, Robert - In: Management Science 33 (1987) 6, pp. 725-738

An alternative to using a single forecasting method is to average the forecasts made by various methods. In this paper we examine empirically combinations of financial analysts' forecasts and forecasts from time series methods in order to predict corporate earnings per share. We conclude that,...

Persistent link: https://www.econbiz.de/10009209307

Maximum Entropy Aggregation of Expert Predictions

Myung, In Jae; Ramamoorti, Sridhar; Andrew D. Bailey, Jr. - In: Management Science 42 (1996) 10, pp. 1420-1436

This paper presents a maximum entropy framework for the aggregation of expert opinions where the expert opinions concern the prediction of the outcome of an uncertain event. The event to be predicted and individual predictions rendered are assumed to be discrete random variables. A measure of...

Persistent link: https://www.econbiz.de/10009214399

Shared Preferences and State-Dependent Utilities

Schervish, Mark J.; Seidenfeld, Teddy; Kadane, Joseph B. - In: Management Science 37 (1991) 12, pp. 1575-1589

This investigation combines two questions for expected utility theory: 1. When do the shared preferences among expected utility maximizers conform to the dictates of expected utility? 2. What is the impact on expected utility theory of allowing preferences for prizes to be state-dependent? Our...

Persistent link: https://www.econbiz.de/10009214416

Aggregating Point Estimates: A Flexible Modeling Approach

Clemen, Robert T.; Winkler, Robert L. - In: Management Science 39 (1993) 4, pp. 501-515

In many decision situations information is available from a number of different sources. Aggregating the diverse bits of information is an important aspect of the decision-making process but entails special statistical modeling problems in characterizing the information. Prior research in this...

Persistent link: https://www.econbiz.de/10009208507

Unanimity and Compromise Among Probability Forecasters

Clemen, Robert T.; Winkler, Robert L. - In: Management Science 36 (1990) 7, pp. 767-779

variety of Bayesian consensus models with respect to their conformance (or lack thereof) to the unanimity principle and a more …

Persistent link: https://www.econbiz.de/10009191604

Combining Probability Distributions from Dependent Information Sources

Winkler, Robert L. - In: Management Science 27 (1981) 4, pp. 479-488

be combined to form a single consensus distribution upon which inferences and decisions can be based. An important … feature of information from different sources is the possibility of stochastic dependence, and a consensus model which …, and the consensus distribution is quite sensitive to the degree of dependence. …

Persistent link: https://www.econbiz.de/10009191940

Combining Overlapping Information

Clemen, Robert T. - In: Management Science 33 (1987) 3, pp. 373-380

for groups of experts who seek a consensus. …

Persistent link: https://www.econbiz.de/10009197569

A Data Envelopment Model for Aggregating Preference Rankings

Cook, Wade D.; Kress, Moshe - In: Management Science 36 (1990) 11, pp. 1302-1310

equivalent to the consensus models of Borda and Kendall. …

Persistent link: https://www.econbiz.de/10009198235

Clustering, Agency Costs and Operating Efficiency: Evidence from Nursing Home Chains

Lu, Susan F.; Wedig, Gerard J. - In: Management Science 59 (2013) 3, pp. 677-694

agency costs within the chain form of organization. Clustering may facilitate scale efficiencies in both monitoring and … without close monitoring. Several proxies for local organizational experience ("local learning") cannot account for our …

Persistent link: https://www.econbiz.de/10010990456

The Effect of a Large Shareholder on Corporate Value

Huddart, Steven - In: Management Science 39 (1993) 11, pp. 1407-1421

to (i) acquire more precise signals of effort and (ii) modify the compensation contract. Better monitoring increases …

Persistent link: https://www.econbiz.de/10009214421