available forecast for each forecaster and the difference between the average and the forecast that this forecaster previously … made. We extended the knowledge base by analyzing the unpredictable component of the earnings forecast. We found that for … some forecasters the unpredictable component can be used to improve upon the predictable forecast, but we also found that …

forecasts. We find evidence consistent with our expectation that egregious forecast errors motivate analysts to work harder to … information. This increased reliance on private information reduces the mean forecast error for upcoming earnings (even after … individual forecast error is idiosyncratic, and thus averaged out in the computation of the mean forecast …

forecast horizon for up to 60 days after the announcement. We subject the model’s learning and out-of-sample performance to … range of variables, mostly fundamental ratios and forecast errors, is used to predict post-announcement returns. Third, we …