The business problem of having inefficient processes, imprecise process analyses and simulations as well as non-transparent artificial neuronal network models can be overcome by an easy-to-use modeling concept. With the aim of developing a flexible and efficient approach to modeling, simulating...

We review key aspects of forecasting using nonlinear models. Because economic models are typically misspecified, the resulting forecasts provide only an approximation to the best possible forecast. Although it is in principle possible to obtain superior approximations to the optimal forecast...

The business problem of having inefficient processes, imprecise process analyses, and simulations as well as non-transparent artificial neuronal network models can be overcome by an easy-to-use modeling concept. With the aim of developing a flexible and efficient approach to modeling,...