Title :
Synthesizing judgment matrix and risk-odds matrix for small-sample combined forecasting
Author :
Li Xie ; Ru-xiang Wei ; Da-Wei Zhang
Author_Institution :
Dept. of Equip. Econ. & Manage., Naval Univ. of Eng., Wuhan, China
Abstract :
There are some small-sample cases in economic forecast, for lacking of quantitative information, in which it happens that some given forecasting method fits well while behaves badly in forecasting, while to the contrary, the situation behaves well when we make the combination of both qualitative and quantitative methods in forecasting. The concept of risk of forecasting is defined, as well as the concept and estimating method of risk-adds matrix. Then, taking the judgment matrix as the basic matrix and the risk-odds matrix as the adjustment one, the modeling strategy of forecasts combination which is obtained by dynamic synthesizing judgment matrix and risk-odds matrix is presented. In this strategy, as the mumble of samples changing, the advantages of both AHP and odds-matrix method can compensate each other, and the performance of small-sample combined forecasting can be improved.
Keywords :
decision making; economic forecasting; matrix algebra; risk analysis; AHP; economic forecast; judgment matrix synthesis; risk-odds matrix; Biological system modeling; Economics; Forecasting; Load modeling; Predictive models; Presses; Smoothing methods; combined forecasting; judgment matrix; odds matrix; risk; small-sample;
Conference_Titel :
Industrial Engineering and Engineering Management (IEEM), 2010 IEEE International Conference on
Conference_Location :
Macao
Print_ISBN :
978-1-4244-8501-7
Electronic_ISBN :
2157-3611
DOI :
10.1109/IEEM.2010.5674641