The estimation of the costs of a product or project and the decisions based on these forecasts are subject to much uncertainty relating to factors like unknown future developments. This has been addressed repeatedly in research studies focusing on different aspects of uncertainty; unfortunately,...

<title>Abstract</title> In recent years, there has been a growing interest in a range of transport policy initiatives which are designed to influence people’s travel behaviour away from single‐occupancy car use and towards more benign and efficient options, through a combination of marketing, information,...

A number of studies have shown that providing point forecasts to decision makers can lead to improved production planning decisions. However, point forecasts do not convey information about the level of uncertainty that is associated with forecasts. In theory, the provision of prediction...

In many organizations point estimates labelled as 'forecasts' are produced by human judgment rather than statistical methods. However, when these estimates are subject to asymmetric loss they are, in fact, decisions because they involve the selection of a value with the objective of minimizing...