2003 | OriginalPaper | Chapter
Bounds & Likelihood Procedure Revisited
Authors : O. Becker, J. Leitner, U. Leopold-Wildburger, J. H. Schuetze
Published in: Operations Research Proceedings 2002
Publisher: Springer Berlin Heidelberg
Included in: Professional Book Archive
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In an experiment subjects are asked to predict the next value of an univariate time series on the basis of the past observations. The average forecasts of the subjects can be well described by a surprisingly simple rule, which is called the “Bounds and Likelihood procedure”(Becker/Leopold 1996). In a new series of the experiment, conducted 2002 in Graz with 72 participants, the behaviour and score of the subjects is further analysed with the Selective Attention Test (subset of D2, Brickenkamp 1962) and Intelligence Test for Reasoning (subset of PSB, Horn 1969).