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K. Anders Ericsson

K. Anders Ericsson holds the Dr. Edward Conradi Eminent Scholar Chair of Psychology at Florida State University.

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Historically, the theory of forecasting that underpinned actual practice in economics has been based on two key assumptions?-that the model was a good representation of the economy and that the structure of the economy would remain relatively unchanged. In reality, forecast models are mis-specified, the economy is subject to unanticipated shifts, and the failure to make accurate predictions is relatively common.