REVIEW OF COMBINING FORECASTS APPROACHES

Abstract

The first review of the literature on the subject combination of forecasts was made in the twentieth century by Robert Clemen. After more than twenty years, several other papers have been published with new theories and applications, but no other similar review was performed. Faced with this placement, this paper aimed to review the literature on the approaches of combining forecast after the survey conducted by Clemen (1989), covering the various areas of knowledge. Thus, this paper presents the classification and analysis of 174 articles collected on the subject, describing their main characteristics. As main contributions, this paper offers: a summary of current literature on the topic; a classification of articles according to the approaches; a subdivision of items within each approach; analysis of classification and identification of the most common methods, new methods, and future research.