Article ; Online: The wisdom of many in few: Finding individuals who are as wise as the crowd.
Journal of experimental psychology. General
2023 Volume 152, Issue 5, Page(s) 1223–1244
Abstract: Is forecasting ability a stable trait? While domain knowledge and reasoning abilities are necessary for making accurate forecasts, research shows that knowing how accurate forecasters have been in the past is the best predictor of future accuracy. ... ...
Abstract | Is forecasting ability a stable trait? While domain knowledge and reasoning abilities are necessary for making accurate forecasts, research shows that knowing how accurate forecasters have been in the past is the best predictor of future accuracy. However, unlike the measurement of other traits, evaluating forecasting skill requires substantial time investment. Forecasters must make predictions about events that may not resolve for many days, weeks, months, or even years into the future before their accuracy can be estimated. Our work builds upon methods such as cultural consensus theory and proxy scoring rules to show talented forecasters can be discriminated in real time, without requiring any event resolutions. We define a peer similarity-based |
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MeSH term(s) | Humans ; Problem Solving ; Forecasting ; Motivation ; Peer Group |
Language | English |
Publishing date | 2023-03-02 |
Publishing country | United States |
Document type | Journal Article |
ZDB-ID | 189732-9 |
ISSN | 1939-2222 ; 0096-3445 |
ISSN (online) | 1939-2222 |
ISSN | 0096-3445 |
DOI | 10.1037/xge0001340 |
Database | MEDical Literature Analysis and Retrieval System OnLINE |
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