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In important conflicts such as wars and labor-management disputes, people typically rely on the judgment of experts to predict the decisions that will be made. We compared the accuracy of 106 forecasts by experts and 169 forecasts by novices about eight real conflicts. The forecasts of experts...
Persistent link: https://www.econbiz.de/10009439172
If people in conflicts can more accurately forecast how others will respond, that should help them to make better decisions. Contrary to expert expectations, earlier research found game theorists' forecasts were less accurate than forecasts from simulated interactions using student role players....
Persistent link: https://www.econbiz.de/10005149075
We looked at evidence from comparative empirical studies to identify methods that can be useful for predicting demand in various situations and to warn against methods that should not be used. In general, use structured methods and avoid intuition, unstructured meetings, focus groups, and data...
Persistent link: https://www.econbiz.de/10005149125
When people forecast, they often use analogies but in an unstructured manner. We propose a structured judgmental procedure that involves asking experts to list as many analogies as they can, rate how similar the analogies are to the target situation, and match the outcomes of the analogies with...
Persistent link: https://www.econbiz.de/10005581149