SUPERFORECASTING

7 important questions on SUPERFORECASTING

WISDOM OF THE CROWDS: AGGREGATION

• Effectiveness depends on what is aggregated:
– Judgments of many people that know nothing
– Judgments of many people that know a little
– Aggregation of judgments of people who know lots about lots of different things: collective pool of information is much bigger!

Typical performance
- Relatively unfamiliar lab tasks
- Relatively unmotivated people

• Base rate neglect
• Confirmation trap
• Hindsight bias
• Overconfidence

Optimal performance
How well people could perform

• What happens if:
– Selection of exceptional talent
– Offering debiasing training
– Rewarding top performers
– Intrinsically interesting real-world problems
  • Higher grades + faster learning
  • Never study anything twice
  • 100% sure, 100% understanding
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IARPA “Intelligence Advanced Research Projects Activity” mandates to?

– conduct cross-community research
– target new opportunities and innovations
– generate revolutionary capabilities

What does the Brier Score measures?

– Measures distance between forecast and what happened
– Lower is better (cf. golf scores)

People that are Above average in fluid intelligence, are?

– Faster information processors
– More reliable pattern detectors

What is a Fermi Estimate?

A Fermi estimate is one done using back-of-the-envelope calculations and rough generalizations to estimate values which would require extensive analysis or experimentation to determine exactly.

The question on the page originate from the summary of the following study material:

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