conditions under which forecast combinations are most effective, and tried to explain why simple equal weights work so well relative to more sophisticated statistical techniques.” Probabilistic forecasts Although the literature on the combination of point forecasts is very rich, the topic of combining probabilistic forecasts is not so popular. There are very few papers that deal explicitly with the combination of interval forecasts, however, there has been some progress in the area of density forecasts. A simple, yet powerful alternative technique has been introduced in the context of electricity price forecasting. Quantile Regression Averaging (QRA) involves applying quantile regression to the point forecasts of a number of individual forecasting models or experts. It has been found to perform extremely well in practice - the top two performing teams in the price track of the Global Energy Forecasting Competition (GEFCom2014) used variants of QRA. See also Consensus-based assessment Consensus decision-making Delphi method Economic forecasting Ensemble averaging Ensemble forecasting Quantile Regression Averaging (QRA) Reference class forecasting Further reading References Futures techniques Economic forecasting Informal estimation Climate and weather statistics Statistical forecasting Macroeconomic forecasting