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My biggest problem with these predictions is retroactive analysis of the prediction itself. If I have Brazil at a 99% chance to win the WC and they win, is my m
by everdev 8y ago
My biggest problem with these predictions is retroactive analysis of the prediction itself. If I have Brazil at a 99% chance to win the WC and they win, is my model the best?
I guess the idea is that over time, you measure prediction performance, but models are constantly changing and there's enough time in between WC tournaments that it'll take at least a century to have a good sample size of predictions.
If you take something more immediate like predicting tomorrow's stock prices or even the market (up/down), I wonder how their prediction models would fare.
- jamesrom 8y agoYep, using many predictions you can calculate a 'brier score' which is a measure of your predictive performance. https://en.wikipedia.org/wiki/Brier_score https://en.wikipedia.org/wiki/Brier_score See also: https://predictionbook.com https://predictionbook.com