Judgmental adjustment in forecasting with formal models: biases - cause, effect, and solutions

01 October 2017 → 30 September 2020
Research Foundation - Flanders (FWO)
Research disciplines
  • Social sciences
    • Animal experimental and comparative psychology
    • Applied psychology
    • Human experimental psychology
    • Management
Judgmental forecasting experiments biases
Project description

The most prevalent method in business forecasting is judgmental adjustment. While previous research has looked into the biases associated with unaided judgmental forecasting, these findings have not yet been tested in judgmental adjustment. This study looks into biases associated with this method, so that we may implement the necessary precautions and training necessary to counter them and improve forecasting performance.