Our news editors obtained a quote from the research, "Instead, we opt for the methodology of Elliott et al. (2005) that allows testing the joint hypothesis of an asymmetric loss function and rationality and reveals the underlying preferences of the forecaster. Results indicate the existence of asymmetries in the shape of the loss function for most energy categories with preferences leaning towards optimism."
According to the news editors, the research concluded: "Moreover, we also examine whether there is a structural break in those preferences over the examined period, 1997-2012."
For more information on this research see: Testing the rationality of DOE's energy price forecasts under asymmetric loss preferences. Energy Policy, 2014;68():567-575. Energy Policy can be contacted at:
The news editors report that additional information may be obtained by contacting E. Mamatzakis,
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