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dynomight's avatar

This is a great post. My only quibble is that I didn't mean to suggest that the two prongs are *necessary* for math-based forecasts to be useful, but just that math-based forecasts tend to be more useful to the degree they are true.

In principle, I think math-based forecasts are basically always better. (In some sense, math-based forecasts are a strictly larger set.) It's mostly that the *difficulty* of creating a math-based forecast that doesn't add some dubious assumptions increases when the rule-set is harder to understand, and the benefit of math-based forecast tends to be lower when the behavior of the ruleset is less.

So I agree with most of what you say here. I particularly endorse the point you make in your last paragraph, that even an ultra-simplified math-based forecast is useful as a sort of "input" to human intuition. I think that's an important point that I basically totally failed to make in my post!

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