Mean absolute percentage error and bias in economic forecasting
Economics LettersPublished 27 August 2011
Jordi McKenzie
Citations85
SJR quartileQ2
SJR score0.76
SNIP0.98
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Abstract
This article develops a simple theoretical framework to show how forecasters may bias downward point predictions under the assumption that the asymmetric loss function is directly related to the (Mean) Absolute Percentage Error (M)APE.
Keywords
Decision SciencesMathematicsEconomics, Econometrics and Finance
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