By K. Nikolopoulos
Giving a keynote speech (some free thoughts essentially) on the the things to watch in this space, at Izmir 13-10-2022. Here is the list to remember when thinking about judgmental forecasting:
Superforecasting (Tetlock & Mellers): an ability? some people posses making them better at forecasting, and harnessing that power for the greater good
Judgmental Adjustments (Fildes & Goodwin): on the still unresolved question if judgmental adjustments help formally statistically derived forecasts
Structured analogies & Reference Class Forecasting (Armstrong/Flyvbjerg): on using past analogies and their outcomes in order to forecast and foresight
Judgmental Models Selection (Petropoulos, Siemsen, Kourentzes):on building and selecting - judgmentally - good statistical models!
Scenarios (Wright): and how little stories and brainstorming can give you valuable forecasts
Bottom line: use your head for judgmental forecasting is the new (& real!) BIG DATA ANALYTICS: the most complex 'computer', on the most complex task, able to answer any question (not necessarily accurately!)