but it is the most standard one to fit a functional form
It is the most simple one and probably the most widely used, though often inappropriately.
My focus was on techniques that can use existing forecast estimates in a black-box fashion rather than those that require one to create new models of one’s own on the evolution of the relevant processes.
As soon as you do something with “existing forecast estimates” other than just accepting them, you are creating a new model of your own. You want to correct them for bias? That’s a model you’ve created.
If you use external forecasts as data, as inputs, you are using them in “black-box fashion”.
It is the most simple one and probably the most widely used, though often inappropriately.
As soon as you do something with “existing forecast estimates” other than just accepting them, you are creating a new model of your own. You want to correct them for bias? That’s a model you’ve created.
If you use external forecasts as data, as inputs, you are using them in “black-box fashion”.