Abstract
Forecasting means the ability to extrapolate the future dynamics of a given system on the basis of its current state and its history. If we have a suitable model, the forecast may be extended to arbitrarily long times. Typical candi- dates for a nearly unlimited prognosis are the models of classical mechanics. Knowledge of the initial conditions allows the determination of any further development due to the deterministic equations of motion. Obviously, a pre- diction becomes better if we have a higher accuracy of the initial conditions or of the past and if we have precise equations of motion.
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© 2003 Springer-Verlag New York, Inc.
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Schulz, M. (2003). Forecasting. In: Statistical Physics and Economics: Concepts, Tools and Applications. Springer Tracts in Modern Physics, vol 184. Springer, New York, NY. https://doi.org/10.1007/0-387-21713-4_6
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DOI: https://doi.org/10.1007/0-387-21713-4_6
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