Search Captions & Ask AI

Rich Elaine SF

February 25, 2016 / 06:53

This episode covers forecasting, political analysis, and the Good Judgment Project. It features discussions on Ebola, finance, and the importance of diverse perspectives.

The guest shares their experience with the Good Judgment Project, emphasizing the need for consistency and careful analysis when answering forecasting questions. They liken the process to taking a test, where understanding the nuances of questions is crucial.

They discuss their background in oil painting and how it influences their thinking, particularly in recognizing patterns and details in both art and world events. The guest highlights the value of various news sources and feedback from other forecasters.

Specific forecasting questions related to Ebola are mentioned, focusing on the transmission risks to the European Union and the World Health Organization's response. The guest reflects on their approach to topics they are less familiar with, such as finance.

The conversation concludes with the guest likening forecasting tournaments to a scene from the movie "Princess Bride," illustrating the high stakes involved in making accurate predictions.

TLDR

The episode discusses forecasting methods, Ebola analysis, and the importance of diverse perspectives in political predictions.

Episode

6:53
00:00:08
I'm politically very interested in what's happening and I used to read the
00:00:14
fivethirtyeight blog that was done by nate silver he advertised for the good judgment project
00:00:24
I was very steady I I answered as many questions as I could I was consistent I updated I didn't let anything get
00:00:34
forgotten and I approached it like I was taking a test at school come in and maybe I didn't even study so but hey
00:00:45
it's it's it's not an essay test so the choices are very clear its its its
00:00:52
numbers and and dumb I would read the question carefully and analyze whether whether this would hinge on it on a
00:01:03
single factor or many factors if it was something that I had a clear gut feeling
00:01:11
right off the bat then I would decide how much to back off from that extreme and if it was something where I was
00:01:21
really undecided at the 50 50 mark I would force myself to a choice because 50 50 is is it is never quite the right
00:01:30
answer one of my hobbies is oil painting so and I and also when I've been taking
00:01:36
the test they tell me I'm visuospatial so I I think that may have made a difference getting the big picture and
00:01:47
knowing when to zoom in to the details backing off and then zooming in and not getting distracted by the wrong details
00:01:57
so I've learned in painting that you have a big canvas you know you bake broad strokes but somehow sometimes just
00:02:06
the tiny nuance here are there changes the way the whole painting looks and I think that's true in world events too
00:02:16
and why you need a lot of different perspectives so that I love my news sources I have my favorite ones but when
00:02:25
you get a variety and when you hear feedback from other forecasters it really helps
00:02:34
I think that maybe the big thing is just to be aware of what you know what you can be certain of and what you're not
00:02:43
sure of to know the difference between subjective and objective knowledge what things can be measured and what things
00:02:51
are a matter of opinion look at history look at patterns look at base rates and then figure out whether your
00:03:00
circumstance is similar or different I mean what's what was interesting for me
00:03:07
is that most of the things I was forecasting on I knew nothing about going in finance questions for instance
00:03:15
I I never pay attention to finance but when you're forecasting on world currencies you can always find graphs
00:03:24
historical charts and I look at them and I see the patterns and I say why is it different now you know are we operating
00:03:33
between the same extremes or will it be new and usually I've gone with stay with
00:03:39
that stay with the trends so I didn't let myself get intimidated by any questions and I tried everything and his
00:03:47
bill mentioned some of the things where I well actually was most hesitant on topics that I might have knowledge on
00:03:54
say on Ebola because suddenly I do know i'm actually more self-conscious about
00:04:00
things where I might miss something that I should know I think the tournament was great you
00:04:12
need to practice so you need to have a lot of questions you need to have feedback you need to know where you're
00:04:20
good and where you're messing up if you have a team if you have other people
00:04:25
that you're in tournament either in competition or in collaboration either way you listen to them you get feedback
00:04:33
and you will you will improve I use different words when I talk to myself now I've always been very
00:04:44
analytic but now I I start talking those percentages to myself and and that's
00:04:52
different I thought of the tournament like the there's a scene in the movie princess
00:05:02
bride where the man in black is facing off against the the hyper confident vizzini and they propose a deadly
00:05:14
drinking game and the line is you know that we shall see who is right and who is dead when we do forecasting
00:05:24
tournaments the timelines are always very precise and many times in a season well you will be right or you will be
00:05:33
dead so I kind of enjoy that analogy there were two big Ebola questions this year one was on whether a single case of
00:05:46
Ebola would make it to the European Union and another question about whether the World Health Organization would
00:05:54
declare Ebola contained within the countries that were most stricken that being Guinea Sierra Leone and Liberia
00:06:01
those questions were entirely different even though they both dealt with Ebola what mattered was different for for
00:06:13
transmission outside Africa and into the EU you were looking at healthcare workers and and plane routes how many
00:06:22
people were going in and out and you need just a single case to set it up you

Words per Minute Over Time

Vibes Breakdown