To what extent can new web-based technology improve forecasts? Assessing the economic value of information derived from Virtual Globes and its rate of diffusion in a financial market

被引：4

作者：

Green, Lawrence ^{[1
]}

Sung, Ming-Chien ^{[1
]}

Ma, Tiejun ^{[1
]}

Johnson, Johnnie E., V ^{[1
]}

机构：

[1] Univ Southampton, Southampton Business Sch, Ctr Risk Res, Southampton SO17 1BJ, Hants, England

来源：

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH | 2019年 / 278卷 / 01期

关键词：

Forecasting; Adaptive markets; Virtual Globes; Market efficiency; Longitudinal study; ADAPTIVE MARKETS; HYPOTHESIS EVIDENCE; RETURN PREDICTABILITY; DECISION-MAKING; STOCK MARKETS; EFFICIENCY; MODEL; SPEED; BEHAVIOR; INEFFICIENCY;

D O I：

10.1016/j.ejor.2019.04.014

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

As the rate of information availability increases, the ability to use web-based technology to improve forecasting becomes increasingly important. We examine Virtual Globe technology and show how the arrival of unprecedented types of web-based information enhances the ability to forecast and can lead to significant, measurable economic benefits. Specifically, we use market prices in a betting market over an eighteen-year period to examine how new elevation data from Virtual Globes (VG) enabled improved forecasting decisions and we explore how this information diffused through the betting market. The results demonstrate how short-lived, profitable opportunities arise from the arrival of novel information, and the speed at which markets adapt over time to account fully for new data. (C) 2019 Elsevier B.V. All rights reserved.

引用

页码：226 / 239

页数：14