This page is for researchers, practitioners, and students who want to know about papers related to forecasting principles.

Papers with information on forecasting principles

Full-text copies of most of the other papers can be obtained through JSTOR or Business Premier (EBSCO) at subscribing institutions.

Special Issue on "Simple versus Complex Forecasting"

A Special Issue of the Journal of Business Research (Volume 68, Issue 8, pp 1657-1818), guest edited by Kesten Green and Scott Armstrong, is devoted to evidence on the effect of simplicity versus complexity on forecast accuracy. The Table of Contents for the Special Issue is available from the link below. The issue includes a summary of the evidence in the first paper, and a paper describing a unifying theory of forecasting, the Golden Rule of Forecasting.

• Simple v Complex Forecasting, Special Issue Table of Contents with links to papers 

Reviews of important papers on forecasting

• Before 1985

• 1985 and on

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Papers with information on forecasting principles

The papers below are provided in full text (PDF format). Articles from Elsevier Science, John Wiley, and other publishers have been reproduced with permission. Single copies of these articles may be downloaded and printed for the reader's personal research and study. Researchers are invited to submit relevant papers.

2018

Armstrong, J. S. & Green, K. C. (2018), "Forecasting methods and principles: Evidence-based checklists," Journal of Global Scholars of Marketing Science, 28, 103-159. - Full text

2011

Green, K. C. & Armstrong, J. S. (2011), "Role thinking: Standing in other people’s shoes to forecast decisions in conflicts," International Journal of Forecasting, 27, 69-80. - Full text

2010

Armstrong, J. S., & K. C. Green (2010), "Demand Forecasting: Evidence-based Methods," Working Paper - Full Text

Armstrong, J. S., K. C. Green, R. Jones, & M. Wright (2010), "Predicting elections from politicians’ faces," International Journal of Public Opinion Research, 22, 511-522. - Full text

Speirs-Bridge, A., F. Fidler, M. McBride, L. Flander, G. Cumming, and M. Burgman (2010), "Reducing overconfidence in the interval judgments of experts," Risk Analysis, 30, 512-523. - Full text

2009

Herzog, S. M., & R. Hertwig (2009), "The wisdom of many in one mind: Improving individual judgments with dialectical bootstrapping," Psychological Science, 20, 231-237. - Full text

2007

Green, K. C. & J. S. Armstrong (2007), "Structured analogies for forecasting," International Journal of Forecasting, 23, 365-376. - Full Text

Green, K. C. & J. S. Armstrong (2007), "Value of expertise for forecasting decisions in conflicts," Interfaces, 37, 287-299. - Working Paper; Published Paper

Green, Kesten C., J. Scott Armstrong, and Andreas Graefe, "Methods to Elicit Forecasts from Groups: Delphi and Prediction Markets Compared," forthcoming in Foresight: The International Journal of Applied Forecasting (Fall 2007). - Full Text

Jones, Randall J., J. Scott Armstrong, and Alfred G. Cuzan (2007), "Forecasting Elections Using Expert Surveys: An Application to the U.S. Presidential Election," Prepared for presentation at the annual meeting of the American Political Science Association, Chicago, August 30 – September 2, 2007. - Full Text

2006

Armstrong, J. Scott (2006), "Findings from Evidence-Based Forecasting: Methods for Reducing Forecast Error," International Journal of Forecasting, 22, 583-598. - Full Text

Armstrong, J. Scott (2006), "How to Make Better Forecasts and Decisions: Avoid Face-to-face Meetings (with commentary)," Foresight: The International Journal of Applied Forecasting, Fall, 3-15. - Full Text

Armstrong, J. Scott (2006), "Significance Tests Harm Progress in Forecasting," International Journal of Forecasting, 23, 321-327. - Full Text

Armstrong, J. Scott and Robert Fildes (2006), "Making Progress in Forecasting," International Journal of Forecasting, 22, 433-441. - Full Text

Using an index model called "The 13 Keys to the White House," American University professor Allan Lichtmann has correctly predicted all American presidential elections since 1860. Scott Armstrong and Alfred Cuzán in "Index Methods for Forecasting: An Application to the American Presidential Elections," Foresight, Issue 3, February 2006, examine how this model performs in comparison with several other models. To access the article, click here.

2005

Armstrong, J. Scott (2005), "Findings from Evidence-based Forecasting Methods for Reducing Forecast Error," International Journal of Forecasting, 22, 583-598. - Full Text

Armstrong, J. Scott (2005), "The Forecasting Canon: Nine Generalizations to Improve Forecast Accuracy," Foresight: The International Journal of Applied Forecasting, 1 (1), June, 29-35. - Full Text

Armstrong, J. S., Fred Collopy, and J. Thomas Yokum (2005), "Decomposition by Causal Forces: A Procedure for Forecasting Complex Time Series," International Journal of Forecasting, 21, 25-36. - Full Text

Goodwin, P. (2005). "How to integrate management judgment with statistical forecasts," Foresight: The International Journal of Applied Forecasting, 1 (1), 8-11. - Full Text

Kesten C. Green & J. Scott Armstrong (2005), "The War in Iraq: Should we have expected better forecasts?," Foresight: The International Journal of Applied Forecasting, 1, October, 50-52. - Full Text

2004

Armstrong, J. S. (2004), "Damped Seasonality Factors: Introduction," International Journal of Forecasting, 20, 525-527. - Full Text

Cuzàn, Alfred G., J. Scott Armstrong, and Randall J. Jones, "Combining Methods to Forecast the 2004 Presidential Election: The Pollyvote." - Full Text

Green, Kesten and J. Scott Armstrong, "Structured Analogies for Forecasting." - Full Text

2003

Armstrong, J. Scott, and Ruth A. Pagell (2003), "Reaping Benefits from Management Research: Lessons from the Forecasting Principles Project," Interfaces, 33 (6), 89-111. - Full Text Provides data showing that invited papers are twenty times more likely to be important than are those accepted through the traditional peer review system. This paper was followed by commentary and by this reply:

Armstrong, J. Scott (2003), "Incentives for Developing and Communicating Principles: A Reply," Interfaces, 33 (8), 109-111. Full Text (PDF)

Also, see review by Raymond Hubbard in International Journal of Forecasting, 20 (2004), 740-741.

Fader, Peter S., Bruce G.S. Hardie, and Robert Zeithammer (2003), "Forecasting New Product Trial in a Controlled Test Market Environment," Journal of Forecasting. - Full Text

2002

Green, Kesten C., "Forecasting decisions in conflict situations: A comparison of game theory, role-playing, and unaided judgment," International Journal of Forecasting, 18, 321-344. - Full Text Unaided judgment and game theorists were unable to provide useful forecasts of decisions made in conflicts. In contrast, simulated interactions (a type of role playing) were quite accurate. The following papers were written in response, along with other commentaries.

Armstrong, J. S. (2002), "Assessing Game Theory, Role Playing, and Unaided Judgment," International Journal of Forecasting, 18 (3), 345-352. - Full Text

See also Green's reply to commentators, "Embroiled in a conflict: Who do you call?," International Journal of Forecasting, 28, 389-395. - Full Text

2001

Adya, M., F. Collopy, J. S. Armstrong and M. Kennedy (2001), "Automatic Identification of Time Series Features for Rule-Based Forecasting," International Journal of Forecasting, 17, 143-157. - Automatic procedures, which are less expensive and more reliable than judgmental procedures, produced rule-based forecasts with little loss in forecast accuracy.

Armstrong, J. Scott (2001), "Combining Forecasts," Principles of Forecasting: A Handbook for Researchers and Practitioners, J. Scott Armstrong (ed.): Norwell, MA: Kluwer Academic Publishers. - Reprinted permission of Kluwer/Springer.

Armstrong, J. Scott (2001), "Should We Redesign Forecasting Competitions?," International Journal of Forecasting, 17, 542-545. - In the future, competitions should start with hypotheses as to which methods will be most effective under what conditions. In addition, they should allow for the use of domain knowledge.

Armstrong, J. S., and F. Collopy (2001), "Identification of Asymmetric Prediction Intervals through Causal Forces," Journal of Forecasting, 20, 273-283. - When forecast errors are large, as is common in annual forecasting, errors are asymmetrical only in percentage terms. Log transformations can correct for this asymmetry, although asymmetry in the logs occurs for "contrary" time series.

Armstrong, J. S., and T. Yokum (2001), "Potential Diffusion of Expert Systems in Forecasting," Technological Forecasting and Social Change, 67, 93-103. Review by M. Adya.

2000

Adya, M., J. S. Armstrong, F. Collopy & M. Kennedy (2000), "An Application of Rule-based Forecasting for a Situation Lacking Domain Knowledge," International Journal of Forecasting, 16, 477-484. - This paper was part of the M3-competition. A simplified version of RBF performed well without using domain knowledge.

Armstrong, J., V. Morwitz & V. Kumar (2000), "Sales Forecasts for Existing Consumer Products and Services: Do Purchase Intentions Contribute to Accuracy?" International Journal of Forecasting, 16, 383-397. - Intentions data are useful, even when one has historical sales data. In the study of consumer durables, intentions led to a 1/3 reduction in forecast errors. This paper was named as one of four outstanding papers published in the International Journal of Forecasting for the period 2000-2001.

Collopy, F. & J. S. Armstrong (2000), "Another Error Measure for Selection of the Best Forecasting Method: The Unbiased Absolute Percentage Error," working paper. - The Unbiased Absolute Percentage Error does not offer any advantage over the Relative Absolute Error.

1999

Armstrong, J. S. (1999), "Forecasting for Environmental Decision-Making," in V.H. Dale and M.E. English, eds., Tools to Aid Environmental Decision Making, New York: Springer-Verlag, 192-225.

Armstrong, J. S. (1999), "Sales Forecasting," in The IEBM Encyclopedia of Marketing, Michael J. Baker (Ed.), London, International Thomson Business Press, 278-290.

Armstrong, J. S. & R. J. Brodie (1999), "Forecasting for Marketing," in G. J. Hooley and M. K. Hussey (eds.), Quantitative Methods in Marketing, 2nd ed., London: International Thompson Business Press, 92-119. - This review of empirical evidence leads to recommendations on how to improve forecast accuracy in marketing.

1998

Armstrong, J. S. (1998), "Commentaries on 'Generalizing about Univariate Forecasting Methods: Further Empirical Evidence,'" International Journal of Forecasting, 14, 359-366. - Comparative studies such as the M-competitions should fully describe the conditions that describe the data.

Armstrong, J. S. & F. Collopy (1998), "Integration of Statistical Methods and Judgment for Time Series Forecasting: Principles from Empirical Research," published in G. Wright and P. Goodwin (eds.), Forecasting with Judgment, John Wiley & Sons Ltd., pp. 269-293, with review by N. R. Sanders, International Journal of Forecasting, 15 (1999), 345-346. - Presents all feasible ways to combine judgment and statistical forecasts, and reviews empirical evidence on each.

1995

Armstrong, J. S. & R. Fildes (1995), "On the Selection of Error Measures for Comparisons Among Forecasting Methods," Journal of Forecasting, 14, 67-71 - This review of empirical evidence leads to the conclusion that mean square errors are highly unreliable and should not be used in forecasting.

Yokum, J. & J. S. Armstrong (1995), "Beyond Accuracy: Comparison of Criteria Used to Select Forecasting Methods," International Journal of Forecasting, 11, 591-597. - According to experts, accuracy is always important, yet other criteria are nearly as important.

1994

Armstrong, J. S. (1994), "The Fertile Field of Meta-Analysis: Cumulative Progress in Agricultural Forecasting," International Journal of Forecasting, 10, 147-149.

Armstrong, J. S. & R. Brodie (1994), "Effects of Portfolio Planning Methods on Decision Making: Experimental Results," International Journal of Research in Marketing, 11, 73-84. - This review of empirical evidence leads to the conclusion that mean square errors are highly unreliable and should not be used in forecasting.

Armstrong, J. S. & R. Brodie (1994), "Portfolio Planning Methods: Faculty Approach or Faculty Research? A Rejoinder to 'Making Better Decisions' by Wensley," International Journal of Research in Marketing, 11, 91-93.

Armstrong, J. & F. Collopy (1994), "How Serious are Methodological Issues in Surveys: A Reexamination of the Clarence Thomas Polls" (Internet publication). - Decisions can be improved if criteria are established before making a decision. Once a decision is made, decision makers were reluctant to change even if their decision violates their own criteria.

Collopy, F., M. Adya & J. Armstrong (1994), "Principles for Examining Predictive Validity: The Case of Information Systems Spending Forecasts," Information Systems Research, 5, 170-179.

MacGregor, D. & J. S. Armstrong (1994), "Judgmental Decomposition: When Does It Work?" International Journal of Forecasting, 10, 495-506. - Decomposition is useful when dealing with large numbers (or very small numbers) and when one knows more about the parts than the whole. Otherwise, it leads to increased errors.

Stewart, T. & C. Lusk (1994), "Seven Components of Judgmental Forecasting Skill: Implications for Research and the Improvement of Forecasts," Journal of Forecasting, 13, 579-599.

1993

Armstrong, J. S. & F. Collopy (1993), "Causal Forces: Structuring Knowledge for Time-series Extrapolation," Journal of Forecasting, 12, 103-115. - Domain knowledge, expressed as expectations about trends in time series, led to improved accuracy in time series forecasts.

1992

Armstrong, J. S. & F. Collopy (1992), "Error Measures for Generalizing about Forecasting Methods: Empirical Comparisons," International Journal of Forecasting, 8, 69-80 - Proposes the Relative Absolute Error (RAE) and compares it with other error measures for comparisons among time series methods. It is reliable and easy to interpret.

• A Commentary on Error Measures, International Journal of Forecasting (1992), 8, 99-111.

Collopy, F. & J. S. Armstrong (1992), "Expert Opinions about Extrapolation and the Mystery of the Overlooked Discontinuities," International Journal of Forecasting, 8, 575-582. - Traditional time series extrapolative methods do not perform well when there are discontinuities in the data, according to this survey of forecasting experts.

Collopy, F. & J. S. Armstrong (1992), "Rule-Based Forecasting: Development and Validation of an Expert Systems Approach for Combining Time Series Extrapolations," Management Science, 38, 1394-1414. - Uses prior knowledge about forecasting methods and domain knowledge to formulate rules for time-series forecasting.

1991

Armstrong, J. S. (1991), "Prediction of Consumer Behavior by Experts and Novices," Journal of Consumer Research, 18, 251-256. - Academics who are familiar with research on consumer behavior were no more accurate than practitioners or high school students when making forecasts about the outcomes of studies on consumer behavior.

1989

Armstrong, J. S. (1989), "Combining Forecasts: The End of the Beginning or the Beginning of the End," International Journal of Forecasting, 5, 585-588.

Armstrong, J. S. & P. Hutcherson (1989), "Predicting the Outcome of Marketing Negotiations: Role-Playing versus Unaided Opinions," International Journal of Research in Marketing, 6, 227-239. - Role-playing is much more accurate than unaided judgment to predict decisions made in negotiations.

Clemen, Robert T. (1989), "Combining Forecasts: A Review and Annotated Bibliography," International Journal of Forecasting, 5, 559-583.

Collopy, F. & J. S. Armstrong (1989), "Toward Computer-Aided Forecasting Systems: Gathering, Coding, and Validating the Knowledge," in George R. Widmeyer (ed.), DSS-899 Transactions: Ninth International Conference on Decision Support Systems, Institute of Management Science, 103-119. - Describes how to develop rules for forecasting.

Dakin, S. & J. Armstrong S. (1989), "Predicting Job Performance: A Comparison of Expert Opinion and Research Findings," International Journal of Forecasting, 5, 187-194. - Despite a wealth of useful research on personnel selection, practitioners rely on invalid procedures.

1988

Armstrong, J. S. (1988), "Book Review of Corporate Strategic Planning," Journal of Marketing, 54, 114-119. - In practice, formal planning is useful.

Armstrong, J. S. (1988), "Communication of Research in Forecasting: The Journal," International Journal of Forecasting, 4, 321-324. - Reports on a survey of 201 readers of two forecasting journals. A substantial amount of findings were used by practitioners and researchers.

Armstrong, J. S. (1988), "Research Needs in Forecasting," International Journal of Forecasting, 4, 449-465.

Armstrong, J. S. (1988), "Review of Ravi Batra, The Great Depression of 1990" International Journal of Forecasting, 4, 493-502. - Identifies faulty forecasting procedures in a popular book.

1987

Armstrong, J. S. (1987), "Forecasting Methods for Conflict Situations," in G. Wright and P. Ayton (eds.), Judgmental Forecasting, 157-176. - For a more recent report, see the Role Playing chapter in Principles of Forecasting.

Armstrong, J. S., R. Brodie & S. McIntyre (1987), "Forecasting Methods for Marketing: Review of Empirical Research," International Journal of Forecasting, 3, 335-376.

1986

Armstrong, J. S. (1986), "Research on Forecasting: A Quarter-Century Review, 1960-1984," Interfaces, 16, 89-109. - This review shows that substantial progress has been made since 1960. That said, much efforts are still being devoted to areas that have little promise, while some highly promising areas are ignored.

Armstrong, J. S. (1986), "Review of Steven J. Rosenstone, Forecasting Presidential Elections," International Journal of Forecasting, 2, 248-249.

Armstrong, J. S., E. B. Dagum, R. Fildes & S. Makridakis (1986), "Publishing Standards for Research in Forecasting (An Editorial)," International Journal of Forecasting, 2, 133-137.

1984

Armstrong, J. S. (1984), "Do Judgmental Researchers Use Their Own Research? A Review of Judgment Under Uncertainty: Heuristics and Biases," Journal of Forecasting, 3, 235-239.

Armstrong, J. S. (1984), "Forecasting by Extrapolation: Conclusions from 25 Years of Research," Interfaces, 14 (Nov.-Dec.), 52-66, with commentaries and reply. - Relatively simple extrapolation methods were found to be more accurate than sophisticated methods.

1983

Armstrong, J. S. (1983), "Relative Accuracy of Judgmental and Extrapolative Methods in Forecasting Annual Earnings," Journal of Forecasting, 2, 437-447. - Management forecasts of firms' annual earnings were more accurate than those by professional independent analysts, and these were more accurate than statistical extrapolations.

Armstrong, J. S. (1983), "Strategic Planning and Forecasting Fundamentals," in Kenneth Albert (ed.), The Strategic Management Handbook. New York: McGraw Hill. - The analysis and setting of objectives has long been regarded as a major step in formal strategic planning. Informal planners seldom devote much energy to this step. For example, in Baker's (1957) summary planning for Edsel, less than 1 percent of his discussion concerned objectives.

Armstrong, J. S. & E. Lusk (1983), "Commentary on the Makridakis Time Series Competition (M-Competition)," with commentary by Gardner, Geurts, Lopes, Markland, McLaughlin, Newbold, Pack, and replies by Andersen, Carbone, Fildes, Parzen, Newton, Winkler, & Makridadis, Journal of Forecasting 2, 259-311.

1982

Armstrong, J. S. (1982), "Research on Scientific Journals: Implications for Editors and Authors," Journal of Forecasting, 1, 83-104.

Armstrong, J. S. (1982), "Strategies for Implementing Change: An Experiential Approach," Group and Organization Studies, 7, 457-475.

Carbone, R. & J. S. Armstrong (1982), "Evaluation of Extrapolative Forecasting Methods: Results of a Survey of Academicians and Practitioners," Journal of Forecasting 1, 215-217. - Reports on a survey of academics and practitioners dealing with beliefs about forecasting methods. For example, they favored the RMSE for evaluation.

Makridakis, Spryos, J. Scott Armstrong, Robert Carbone & Robert Fildes (1982), "An Editorial Statement," Journal of Forecasting, Vol.1, 1-2.

1981

Armstrong, J. S. (1981), "How Expert Are the Experts?," Inc., December, 15-16. - A simpler version of the paper from the Technology Review (1980).

1980

Armstrong, J. S. (1980), "The Seer-Sucker Theory: The Value of Experts in Forecasting," Technology Review, June/July, 16-24. - Expertise above a minimal level does little to improve the accuracy for forecasts of changes over time.

1978

Armstrong, J. S. (1978), "Econometric Forecasting and the Science Court," Journal of Business, 51, 595-600.

Armstrong, J. S. (1978), "Forecasting with Econometric Methods: Folklore versus Fact," Journal of Business, 51, 549-564. - This study, using a survey of the world's leading econometricians, found conflicts between the econometricians' procedures and results from empirical studies. The paper was published along with commentaries by econometricians. The next paper followed this.

Armstrong, J. S. (1978), "Review of Don A. Dillman, Mail and Telephone Surveys," Journal of Business, 54 (4), 622-625. - Note: A 2nd edition of this book, Mail and Internet Surveys, was published by Wiley in 2000.

1977

Tessier, T. & J. Armstrong (1977), "Improving Current Sales Estimates with Econometric Models," (Internet publication).

1975

Armstrong, J. S. (1975), "Tom Swift and his Electric Regression Analysis Machine: 1973," Psychological Reports, 36, 806. - Illustrates problems with non-theoretical statistical analyses by reporting on a published study that used stepwise regression with 115 variables and 19 observations.

Armstrong, J. S., W. Denniston, Jr. & M. Gordon (1975), "The Use of the Decomposition Principle in Making Judgments," Organizational Behavior and Human Performance, 13, 257-263. - Judgmental decomposition improved estimation for difficult problems. See MacGregor and Armstrong (1994) for a more recent treatment.

1974

Armstrong, J. S. & A. Shapiro (1974), "Analyzing Quantitative Models," Journal of Marketing, 38, 61-66. - We present a framework for analyzing models, and illustrate its use in analyzing a popular marketing model.

1972

Armstrong, J. S. & M. Grohman (1972), "A Comparative Study of Methods for Long-Range Market Forecasting," Management Science, 19, 211-221. - Econometric methods were more accurate than extrapolation methods.

1971

Armstrong, J. S. & T. Overton (1971), "Brief vs. Comprehensive Descriptions in Measuring Intentions to Purchase," Journal of Marketing Research, 8, 114-117. - Brief descriptions of new products were as accurate as elaborate and expensive descriptions.

1970

Armstrong, J. S. (1970), "An Application of Econometric Models to International Marketing," Journal of Marketing Research, 7, 190-198. - Econometric methods produced substantially more accurate long-range forecasts of the photographic markets in 17 countries than did extrapolations.

Armstrong, J. S. & J. Andress (1970), "Exploratory Analysis of Marketing Data: Trees vs. Regression," Journal of Marketing Research, 7, 487-492, - Trees (using Automatic Interaction Detector) was more accurate than regression in forecasting the sales at 2,717 gas stations. Also see Armstrong, J. (1971), "Exploratory Analysis of Marketing Data: A Reply," Journal of Marketing Research, 8, 311-313.

1969

Armstrong, J. S. & J. Farley (1969), "A Note on the Use of Markov Chains in Forecasting Store Choice," Management Science, 16, B281-B285. - Markov chains proved to be of little value in forecasting customers' choice of a food store.

1967

Armstrong, J. S. (1967), "Derivation of Theory by Means of Factor Analysis, or Tom Swift and His Electric Factor Analysis Machine," The American Statistician, December, 17-21.

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Reviews of important papers on forecasting before 1985

J. Scott Armstrong's summaries and critiques (written from 1982 to 1985 for the Journal of Forecasting) of important articles on forecasting originally appeared in various major journals. Authors of the original papers were invited to comment, and they did so in almost all cases. The list is not comprehensive; it is simply a selection of papers that were thought to be important. These summaries are reproduced here with the kind permission of the journals' editors and John Wiley.

Click on the author[s] and date to read the review.

• Alexander III, Elmore R. and Ronnie D. Wilkins (1982), "Performance rating validity: the relationship of objective and subjective measures of performance," Group and Organization Studies, 7, 485-496.

• Anderson, Craig A. (1983), "Abstract and concrete data in the perseverance of social theories: when weak data lead to unshakeable beliefs," Journal of Experimental Social Psychology, 19, 93-108.

• Anderson, Craig A. (1983), "Imagination and expectation: the effect of imagining behavioral scripts on personal intentions," Journal of Personality and Social Psychology, 45, 293-305.

• Arkes, Hal R. et al (1981), "Hindsight bias among physicians weighing the likelihood of diagnoses," Journal of Applied Psychology, 66, 252-254.

• Baker, Earl J. (1979), "Predicting response to hurricane warnings: a reanalysis of data from four studies," Mass Emergencies, 4, 9-24.

• Baker, Earl J., S. G. West, D. J. Moss, and J. M. Weyant (1980), "Impact of offshore nuclear power plants: forecasting visits to nearby beaches," Environment and Behavior, 12, 367–407.

• Bar-Hillel, M. and B. Fischhoff (1981), "When do base rates affect predictions?," Journal of Personality and Social Psychology, 4, 671-680.

• Beyth-Marom, Ruth and Hal R. Arkes (1983), "Being accurate but not necessarily Bayesian: comments on Christensen-Szalanski and Beach," Organizational Behaviour and Human Performance.

• Boje, David M. and J. Keith Murnighan (1982), "Group confidence pressures in iterative decisions," Management Science, 28, 1187-1196.

• Borman, Walter C. (1982), "Validity of behavioral assessment for predicting military recruiter performance," Journal of Applied Psychology, 67, 3-9.

• Burns, Michael and Judea Pearl (1981), "Causal and diagnostic inferences: a comparison of validity," Organizational Behaviour and Human Performance, 28, 379–394.

• Camerer, Colin (1981), "General conditions for the success of bootstrapping models," Organizational Behavior and Human Performance, 27, 411–422.

• Christensen-Szalanski, Jay J. J. & Lee Roy Beach (1982), "Experience and the base-rate fallacy," Organizational Behaviour and Human Performance, 29, 270–278.

• Christensen-Szalanski, Jay J. J. and Lee Roy Beach (1983), "Believing is not the same as testing," Organizational Behaviour and Human Performance.

• Currim, Imran S. (1981), "Using segmentation approaches for better prediction and understanding from consumer mode choice models," Journal of Marketing Research, 18, 301-309.

• Dalrymple, Douglas and Barry E. King (1981), "Selecting parameters for short-term forecasting techniques," Decision Sciences, 12, 661-669.

• Danos, Paul and Eugene A. Imhoff (1983), "Factors affecting auditors' evaluations of forecasts," Journal of Accounting Research, 21, 473-494.

• Daub, Mervin (1981), "The accuracy of Canadian short-term economic forecasts revisited," Canadian Journal of Economics, 14, 499–507.

• Daub, Mervin and E. Peterson (1981), "The accuracy of a long-term forecast: Canadian energy requirements," Energy Research, 5, 141-154.

• Feild, Hubert S. and William H. Holley (1982), "The relationship of performance appraisal system characteristics to verdicts in selected employment discrimination cases," Academy of Management Journal, 25, 392-406.

• Fildes, Robert and M. Desmond Fitzgerald (1983), "The use of information in balance of payments forecasting," Economica, 50, 249-258.

• Fink, Edward B., W. Braden and C. B. Qualls (1982), "Predicting pharmacotherapy outcome by subjective response," Journal of Clinical Psychiatry, 43, 272-275.

• Fischer, Gregory W. (1981), "When oracles fail - a comparison of four procedures for aggregating subjective probability forecasts," Organizational Behavior and Human Performance, 28, 96-110.

• Fischer, Gregory W. (1982), "Scoring-rule feedback and the overconfidence syndrome in subjective probability forecasting," Organizational Behavior and Human Performance, 20, 352-369.

  Fralicx, Rodney and Namburg S. Raju (1982), "A comparison of five methods for combining multiple criteria into a single composite," Educational and Psychological Measurement, 42, 823-827.

• Fujii, Edwin T. and James Mak (1981), "Forecasting tourism demand; some methodological issues," The Annals of Regional Science, 15, 72-82.

• Gaeth, Gary J. and James Shanteau (1984), "Reducing the influence of irrelevant information on experienced decision makers," Organizational Behavior and Human Performance, 33, 263-282.

• Gardner, Everette D. Jr. and David G. Dannenbring (1980), "Forecasting with exponential smoothing: some guidelines for model selection," Decision Sciences, 11, 370–383.

• Glantz, Michael H. (1982), "Consequences and responsibilities in drought forecasting: the case of Yakima, 1977," Water Resources Research, 18, 3-13.

• Greenley, Gordon E. (1983), "Where marketing planning fails," Long Range Planning, 16, 106-115.

• Gregory, W. Larry, R. B. Cialdini and Kathleen M. Carpenter (1982), "Self-relevant scenarios as mediators of likelihood estimates and compliance: does imaging make it so?," Journal of Personality and Social Psychology, 42, 89-99.

• Hamill, Ruth, T. D. Wilson and R. E. Nisbett (1980), "Insensitivity to sample bias; generalizing from atypical cases," Journal of Personality and Social Psychology, 39, 578-589.

• Holmes, David S. et al (1980), "Biorhythms: their utility for predicting post-operative recuperative time, death and athletic performance," Journal of Applied Psychology, 65, 233-236.

• Just, Richard E. and Gordon C. Rausser (1981), "Commodity price forecasting with large scale econometric models and the futures market," American Journal of Agricultural Economics, 63, 197-208.

• Keen, Howard Jr. (1981), "Who forecasts best? Some evidence from the Livingston survey," Business Economics, 16, 24-29.

• Kharadia, V. C. and Robert A. Collins (1980-81), "Forecasting credit union failures," Journal of Economics and Business, 33, 147-152.

• Koriat, Asher, Sarah Lichtenstein, and Barauch Fischoff (1980), "Reasons for confidence," Journal of Experimental Psychology: Human Learning and Memory, 6, 107-118.

• Larcker, David F. and Lessig V. Parker (1983), "An examination of the linear and retrospective process tracing approaches to judgment modeling," Accounting Review, 58, 58-77.

• Manis, M., N. E. Avis, and S. Cardoze (1981), "Reply to Bar-Hillel and Fischhoff," Journal of Personality and Social Psychology, 41, 681-683.

• Manis, M., I. Dovalina, N. E. Avis, and S. Cardoze (1980), "Base rates can affect individual predictions," Journal of Personality and Social Psychology, 63, 231-248.

• Marks, Robert E. (1980), "The value of 'almost' perfect weather information to the Australian tertiary sector," Australian Journal of Management, 5, 67-85.

• McLeavey, Dennis W., T. S. Lee, and E. E. Adam, Jr. (1981), "An empirical evaluation of individual item forecasting models," Decision Sciences, 12, 708-714.

• Milstein, Robert M. et al. (1980), "Prediction of interview ratings in a medical school admission process," Journal of Medical Education, 55, 451-453.

• Milstein, Robert M. et al. (1981), "Admission decisions and performance during medical school," Journal of Medical Education, 56, 77-82.

• Moore, William L. (1982), "Predictive power of joint space models constructed with composition techniques," Journal of Business Research, 10, 217-236.

• More, Roger A. and Blair Little (1980), "The application of discriminant analysis to the prediction of sales forecast uncertainty in new product situations," Journal of the Operational Research Society, 31,71-77.

• Murphy, Allan H. et al (1980), "Misinterpretations of precipitation probability forecasts," Bulletin of the American Meteorological Society, 61, 695-701.

• Peters, Lawrence H., Ellen F. Jackofsky and James R. Salter (1981), "Predicting turnover: a comparison of part-time and full-time employees," Journal of Occupational Behaviour, 2, 89-98.

• Reilly, Richard R. and Georgia T. Chao (1982), "Validity and fairness of some alternative employee selection procedures," Personnel Psychology, 35, 1-62.

• Robertson, I. T. and R. S. Kandola (1982), "Work sample tests: validity, adverse impact and applicant reaction," Journal of Occupational Psychology, 55 171-183.

• Sewell, Murphy A. (1981), "Relative information contributions of consumer purchase intentions and management judgment as explanators of sales," Journal of Marketing Research, 18, 249-253.

• Simonton, Dean Keith (1981), "Presidential greatness and performance: can we predict leadership in the White House?" Journal of Personality, 49, 306-323.

• Wagenaar, Willem A. and Han Timmers (1979), "The pond-and-duckweed problem: three experiments on the misperception of exponential growth," Acta Psychologica, 43, 239-251.

• Wells, Gary L. and Donna M. Murray (1984), "Eyewitness confidence," in Gary L. Wells and E. F. Loftus, (eds), Eyewitness Testimony: Psychological Perspectives, New York: Cambridge University Press.

• Wilton, Peter C. and Edgar A. Pessemier (1981), "Forecasting the ultimate acceptance of an innovation: the effects of information," Journal of Consumer Research, 8, 162-171.

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Reviews of important papers on forecasting from 1985 and on

J. Scott Armstrong's summaries and critiques of important articles on forecasting originally appeared in the International Journal of Forecasting and other major journals. Authors of the original papers were invited to comment, and they did so in almost all cases. The list is not comprehensive; it is simply a selection of papers that were thought to be important. Papers from the International Journal of Forecasting were not included. These summaries are reproduced here with the kind permission of the journals' editors and Elesevier Science.

Click on the author[s] and date to read the review.

• Alsem, Karel J., Peter S. H. Leeflang and Jan C. Reuyl (1989), "The forecasting accuracy of market share models using predicted values of competitive marketing behavior," International Journal of Research in Marketing, 6, 183-198.

• Arkes, Hal R., C. Christensen, C. Lal, and C. Blumer (1987), "Two methods of reducing overconfidence," Organizational Behavior and Human Decision Processes, 39, 133-144.

• Ashton, Alison Hubbard (1985), "Does consensus imply accuracy in accounting studies of decision making?" Accounting Review, 60, 173-85.

• Batchelor, Roy (2001), "How useful are the forecasts of intergovernmental agencies? The IMF and OECD versus the consensus," Applied Econometrics, 33, 225-235.

• Bayus, Barry L. (1992), "Have diffusion rates been accelerating over time?," Marketing Letters, 3, 215-226.

• Ben-Shakhar, Gerson, M. Bar-Hillel, Y. Bliu, E. Ben-Abba, and A. Flug (1986), "Can graphology predict occupational success? Two empirical studies and some methodological ruminations," Journal of Applied Psychology, 71, 645-653.

• Bernardin, H. John and D.K. Cooke (1993), "Validity of an honesty test in predicting theft among convenience store employees," Academy of Management Journal, 36, 1097-1108.

• Blackmore, Susan and Tom Troscianko (1985), "Belief in the paranormal: Probability judgments, illusory control, and the 'chance baseline shift,'" British Journal of Psychology, 76, 459-468.

• Braun, Phillip A. and Ilan Yaniv (1992), "A case study of expert judgment: Economists probabilities versus base-rate model forecasts," Journal of Behavioral Decision Making, 5, 217-231.

• Brooks, Terrence (1984), "Naive vs. sophisticated methods of forecasting public library circulations," Library and Information Science Research, 6, 215-217.

• Brouthers, Lance Eliot (1986), "Parties, ideology and elections: The politics of federal revenues and expenditures forecasting," International Journal of Public Administration, 8, 289-314.

• Buchanan, William (1986), "Election predictions: An empirical assessment," Public Opinion Quarterly, 50, 222-227.

• Bunn, D. and G. Wright (1991), "Interaction of Judgmental and Statistical Forecasting Methods: Issues and Analysis," Management Science, 37, 501-518.

• Dalessio, Anthony T. (1994), "Predicting insurance agent turnover using a video-based situational judgment test," Journal of Business and Psychology, 9, 23-32.

• Davies, Martin, F. (1987), "Reduction of hindsight bias by restoration of foresight perspective: Effectiveness of foresight and hindsight-retrieval strategies," Organizational Behavior and Human Decision Processes, 40, 50-68.

• Diebold, Francis X. and Glenn D. Rudebusch (1991), "Forecasting output with the Composite Leading Index: A real time analysis," Journal of the American Statistical Association, 86, 603-610.

• Dielman, Terry E. (1986), "A comparison of forecasts from least absolute value and least squares regression," Journal of Forecasting, 5, 189-195.

• Dominguez, Kathryn M., Ray C. Fair, and M.D. Shapiro (1988), "Forecasting the depression: Harvard versus Yale," The American Economic Review, 78, 595-612.

• Fildes, Robert (1985), "Quantitative forecasting – The state of the art: Econometric models," Journal of the Operational Research Society, 36, 549-580.

• Fildes, Robert (1989), "Evaluation of aggregate and individual forecast method selection rules," Management Science, 35, 1056-1065.

• Fildes, R. and S. Makridakis (1995), "The impact of empirical accuracy studies on time series analysis and forecasting," International Statistical Review, 63, 289-308.

• Frank, Howard A. and Jane McCollough (1992), "Municipal forecasting practice: ‘Demand’ and ‘supply’ side perspectives," International Journal of Public Administration, 15, 1669-1696.

• Friedman, Milton (1991), "A cautionary tale about multiple regression" (the appendix to "Alternative approaches to analyzing economic data" by Milton Friedman and Anna J. Schwartz), American Economic Review, 81, 48-49.

• Gartner, William B. and Robert J. Thomas (1993), "Factors affecting new product forecasting accuracy in new firms," Journal of Productive Innovation Management, 10, 35-52.

• Georgoff, David M. and Robert G. Murdick (1986), "Manager's guide to forecasting," Harvard Business Review, 64 (Jan-Feb), 110-120.

• Goodwin, P. and G. Wright (1994), "Heuristics, biases and improvement strategies in judgmental time series," Omega, 22, 553-568.

• Greenwald, Anthony G., C. G. Carnot, R. Beach, and B. Young (1987), "Increasing voting behavior by asking people if they expect to vote," Journal of Applied Psychology, 72, 315-318.

• Hancock, T., J. Lane, R. Ray, and D. Glennon (1992), "The Ombudsman: Factors Influencing Academic Research Productivity: A Survey of Management Scientists," Interfaces, 22 (5), 26-38.

• Hanke, John and Pam Weigand (1994), "What are business schools doing to educate forecasters," Journal of Business Forecasting, Fall, 10-12.

• Hoch, Stephen J. (1988), "Who do we know: Predicting the interests and opinions of the American consumer," Journal of Consumer Research, 15, 315-324.

• Hoch, Stephen J. (1985), "Counterfactual reasoning and accuracy in predicting personal events," Journal of Experimental Psychology: Memory and Cognition II, 719-731.

• Huth, William L., D.R. Eppright and P.M. Taube (1994), "The indexes of consumer sentiment and confidence: Leading or misleading guides to future buyer behavior," Journal of Business Research, 29, 199-206.

• Lau, Richard R. (1994), "An analysis of the accuracy of 'trial heat' polls during the 1992 presidential election," Public Opinion Quarterly, 58, 2-20.

• Lemert, James B. (1986), "Picking the winners: Politician vs. voter predictions of two controversial ballot measures," Public Opinion Quarterly, 50, 208 - 221.

• Lobo, Gerald J. (1992), "Analysis and comparison of financial analysts’, time series, and combined forecasts of annual earnings," Journal of Business Research, 24, 269-280.

• Mathews, Brian P. and A. Diamantopoulos (1986), "Managerial intervention in forecasting: An empirical investigation of forecast manipulation," International Journal of Research in Marketing, 3.

• McDaniel, Michael A., D. L. Whetzel, F. L. Schmidt and S. D. Maurer (1994), "The validity of employment interviews: A comprehensive review and meta-analysis," Journal of Applied Psychology, 79, 599-615.

• McNees, Stephen K. (1992), "The uses and abuses of 'consensus' forecasts," Journal of Forecasting, 11, 703-710.

• Peverill, Squire (1988), "Why the 1936 Literary Digest Poll Failed?," Public Opinion Quarterly, 52, 125-133.

• Remus, William (1986), "Robustness of a linear model of the admissions decision," Omega, 14, 185-187.

• Rhyne, David M. (1989), "Forecasting systems in managing hospital services demand: A review of utility," Socio-economic Planning Sciences, 23, 115-123.

• Riddington, G.L. (1993), "Time varying coefficient models and their forecasting performance," Omega, 21, 573-583.

• Rosenstone, Steven J., John Mark Hansen, and Donald R. Kinder (1986), "Measuring change in personal economic well-being," Public Opinion Quarterly, 50, 176-192.

• Sanders, Nada R. (1992), "Accuracy of judgmental forecasts: A comparison," Omega, 20, 353-364.

• Sanders, Nada R. and Karl B. Manrodt (1994), "Forecasting practices in US corporations: Survey results," Interfaces, 24, 92-100.

• Sanders, Nada R. and L.P. Ritzman (1989), "Some empirical findings on short-term forecasting: Technique complexity and combinations," Decision Sciences, 20, 635-640.

• Sanders, Nada R. and Larry P. Ritzman (1992), "The Need for Contextual and Technical Knowledge in Judgmental Forecasting," Journal of Behavioral Decision Making, 5, 39-52.

• Sexton, Terry A. (1987), "Forecasting property taxes: A comparison and evaluation of methods," National Tax Journal, 15, 47-59.

• Shamir, Jacob (1986), "Pre-election polls in Israel: Structural constraints on accuracy," Public Opinion Quarterly, 50, 62-75.

• Smith, Tom W. and Frederick D. Weil (1990), "Finding public opinion data: A guide to sources," Public Opinion Quarterly, 54, 609-626.

• Stekler, Herman O. (1987), "Who forecasts better?," Journal of Business and Economic Statistics, 5, 155-158.

• Teigen, Karl Halvor (1990), "To be convincing or to be right: A question of preciseness," in: K.J. Gilhooly, M.T.G. Keane, R.H. Logie and G. Erdös (eds.), Lines of Thinking (Wiley, Chichester), 299-313.

• Wagenaar, Willem A. and G.B. Keren (1986), "The seat belt paradox: Effect off accepted roles on information seeking," Organizational Behavior and Human Decision Processes, 38, 1-6.

• Weimann, Gabriel (1990), "The obsession to forecast: Pre-election polls in the Israeli press," Public Opinion Quarterly, 54, 396-408.

• Winston, Clifford (1993), "Economic deregulation: Days of reckoning for microeconomists," Journal of Economic Literature, 31, 1263-1289.

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