Andreas Graefe sends along this paper (with Helmut Kuchenhoff, Veronika Stierle, and Bernhard Riedl) and writes: We summarize prior evidence from the field of economic forecasting and find that the simple average was more accurate than Bayesian model averaging in three of four studies; on average, the error of BMA was 6% higher than the […] The post Combining forecasts: Evidence on the relative accuracy of the simple average and…