Pandemic Uncovers the Limitations of Superforecasting

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Manage episode 259192011 series 1310569
By Ross Richey. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Recently it's become expected that if you want to be taken seriously as a forecaster that you should not only record your predictions in advance, but assign a confidence level. And that by following this methodology certain people, so called superforecasters, have been found who are significantly better at prediction than average. The problem with this approach is that while these individuals are great at predicting should things continue mostly as they have, they're actually worse at predicting extreme events, which are inevitably the most impactful.

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