Compromising improves forecasting.

ABSTRACT: Predicting the future can bring enormous advantages. Across the ages, reliance on supernatural foreseeing was substituted by the opinion of expert forecasters, and now by collective intelligence approaches which draw on many non-expert forecasters. Yet all of these approaches continue to see individual forecasts as the key unit on which accuracy is determined. Here, we hypothesize that compromise forecasts, defined as the average prediction in a group, represent a better way to harness collective predictive intelligence. We test this by analysing 5 years of data from the Good Judgement Project and comparing the accuracy of individual versus compromise forecasts. Furthermore, given that an accurate forecast is only useful if timely, we analyze how the accuracy changes through time as the ev

SUBMITTER: Ferreiro DN 

PROVIDER: S-EPMC10189590 | biostudies-literature | 2023 May

REPOSITORIES: biostudies-literature