Pater Familias

Theories, observations, and articles, by Philip Schaefer · All posts · Categories

WHY POKER PLAYERS AND SPORTS FANS MAKE BETTER PREDICTIONS.

December 5, 2012 at 9:28 PM · Economics, Science

WHY POKER PLAYERS AND SPORTS FANS MAKE BETTER PREDICTIONS. Nate Silver thinks that the more experience we have with low-probabilty events, the easier it is to appreciate that low-probability events can occur. He says that he has an advantage in making political forecasts because: “…my background consists of experience in two disciplines, sports and poker, in which you’ll see pretty much everything at least once. Play enough poker hands, and you’ll make your share of royal flushes. Play a few more, and you’ll find that your opponent has made a royal flush when you have a full house.”