Crowd Wisdom Better At Predictions Than Top CIA Analysts
First time accepted submitter tkalfigo (1448133) writes "The Good Judgment Project is an experiment put together by three well-known psychologists and some people inside the intelligence community. What they aim to prove is that average, ordinary people in large groups and access just to Google search can predict far more accurately events of geopolitical importance than smart intelligence analysts with access to actual classified information. In fact there is a clearly identified top 1 percent of the 3000 predictors group, who have been identified as super-forecasters: people whose predictions are reportedly 30 percent better than intelligence officers."
People ahead in guessing games such as these are probably more likely to regress to the mean than to continue defying probability.
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
This is why its better to have elections than let the CIA select the government. AFAIK, anyway.
http://michaelsmith.id.au
I wonder if they properly controlled for luck. Take three thousand people and get them to make predictions and some of them are going to appear unusually accurate than others even if all of them are just making completely random guesses. You'd be surprised how many people don't correctly account for that. Every paper proposing clinical diagnostic criteria I've ever read, for example.
Back in 2003, there was a similar system called the Policy Analysis Market (PAM) that was close to being implemented. It got deep-sixed by some world-class idiots from Congress (see my opinion then). It's too bad that we have to go to a somewhat contrived surveying/polling system rather than use something that we know works.
For example, I think a PAM system would have given us (and I mean everyone not just US policy makers) insight into how the events of the Arab Spring revolutions would evolve even if it couldn't have predicted the original flash point.
With enough people, there will be someone with insightful information, and probably a balance of opinions. Searching for bugs in open source works a little like that.
But in theory if a professional intelligence service had hard evidence that, for example, a politician is bluffing about something, then a policy can be adopted even if it goes against some conventional wisdom.
For example, the information that Saddam Hussein's WMD programme was a hoax prevented a rash invasion...., um, never mind.
http://en.wikipedia.org/wiki/D...
This has been known since the 60s. Only reason it keeps cropping up is the ego of the people involved in analysis, and the organizational inertia of the agencies involved.
Interesting, so why do "laymen" in the US keep electing zealots, crackpots, and "entrepreneurs" who are clearly lying to their face for fun and profit? Do you guys enjoy being treated with contempt?
And did you exchange a walk on part in the war for a lead role in a cage? - Pink Floyd.
The problem with Google's prediction algorithm is that it consistently overshoots. The story was on /. about a month ago, as far as I can tell they're not only not predicting cases correctly, they aren't even attempting to distinguish between strains (how could they, they're predicting from search activity - flu victims rarely know their strain).
... whatever