The issue is that they continue to underperform
the statistical prediction rule alone.
In fact, experts predict less reliably than they would have if they had just used
the statistical prediction rule.
Statistical prediction rules get broken - leg problems incorrect because the particular case is so different from the base rate.
Since the 1950s, social scientists have been comparing the predictive abilities of traditional experts, and what are known as «
statistical prediction rules,» which are just simple models.
The reason is that when experts are given
statistical prediction rules along with permission to override them, the experts find more broken legs than there really are.
Started investigating the theory behind
statistical prediction rules and saw that it was a better method for me.
Not exact matches
The contrarian value investment strategy is a good avenue for the application of
statistical -
prediction rules because all of the stocks have what appear to be broken legs.