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Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Tinbergen Institute Discussion Paper No. 12-110/III
Verlag: 
Tinbergen Institute, Amsterdam and Rotterdam
Zusammenfassung: 
We study the forecasting of the yearly outcome of the Boat Race between Cambridge and Oxford. We compare the relative performance of different dynamic models for forty years of forecasting. Each model is defined by a binary density conditional on a latent signal that is specified as a dynamic stochastic process with fixed predictors. The out-of-sample predictive ability of the models is compared between each other by using a variety of loss functions and predictive ability tests. We find that the model with its latent signal specified as an autoregressive process cannot be outperformed by the other specifications. This model is able to correctly forecast 30 out of 40 outcomes of the Boat Race.
Schlagwörter: 
Binary time series
Predictive ability
Non-Gaussian state space model
JEL: 
C32
C35
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper
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