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Emeritus Professor of Decision Sciences
Makridakis S., Hibon M. (2001). Response to the Commentaries on "The M3-Competition: Results, Conclusions and Implications International Journal of Forecasting, 17(4), pp. 581-584.
The original paper "M3-Competition: Results, Conclusions and Applications" was published in the Internal Journal of Forecasting (Vol. 16, N 14, October-December 2000, Pp. 451-476). It describes the M3-Competition, the latest of the M-Competitions.It explains the reasons for conducting the competition and summarizes its results and conclusions. In addition the paper compares such results/conclusions with those of the previous two M-Competitions as well as with those of other major empirical studies.Finally, the implications of these results and conclusions are considered, their consequences for both the theory and practice of forecasting are explored and directions for future research are contemplated. This reply responds to the various comments made to the original paper while also providing the authors views and drawing some final conclusions to the M3 Competition as well as to the previous ones.