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Superforecasting: The Art and Science of Prediction

Philip E. Tetlock

Top 10 Best Quotes

“It is wise to take admissions of uncertainty seriously,” Daniel Kahneman noted, “but declarations of high confidence mainly tell you that an individual has constructed a coherent story in his mind, not necessarily that the story is true.”

“The ultimate goal of science is uncertainty’s total eradication.”

“When you combine the judgments of a large group of people to calculate the “wisdom of the crowd” you collect all the relevant information that is dispersed among all those people. But none of those people has access to all that information. One person knows only some of it, another knows some more, and so on.”

“We are all forecasters. When we think about changing jobs, getting married, buying a home, making an investment, launching a product, or retiring, we decide based on how we expect the future will unfold.”

“Thoughts for the 2001 Quadrennial Defense Review If you had been a security policy-maker in the world’s greatest power in 1900, you would have been a Brit, looking warily at your age-old enemy, France. By 1910, you would be allied with France and your enemy would be Germany. By 1920, World War I would have been fought and won, and you’d be engaged in a naval arms race with your erstwhile allies, the U.S. and Japan. By 1930, naval arms limitation treaties were in effect, the Great Depression was underway, and the defense planning standard said ‘no war for ten years.’ Nine years later World War II had begun. By 1950, Britain no longer was the world’s greatest power, the Atomic Age had dawned, and a ‘police action’ was underway in Korea. Ten years later the political focus was on the ‘missile gap,’ the strategic paradigm was shifting from massive retaliation to flexible response, and few people had heard of Vietnam. By 1970, the peak of our involvement in Vietnam had come and gone, we were beginning détente with the Soviets, and we were anointing the Shah as our protégé in the Gulf region. By 1980, the Soviets were in Afghanistan, Iran was in the throes of revolution, there was talk of our ‘hollow forces’ and a ‘window of vulnerability,’ and the U.S. was the greatest creditor nation the world had ever seen. By 1990, the Soviet Union was within a year of dissolution, American forces in the Desert were on the verge of showing they were anything but hollow, the U.S. had become the greatest debtor nation the world had ever known, and almost no one had heard of the internet. Ten years later, Warsaw was the capital of a NATO nation, asymmetric threats transcended geography, and the parallel revolutions of information, biotechnology, robotics, nanotechnology, and high density energy sources foreshadowed changes almost beyond forecasting. All of which is to say that I’m not sure what 2010 will look like, but I’m sure that it will be very little like we expect, so we should plan accordingly. Lin Wells”

“This approach, built on the “wisdom of the crowd” concept, has been called “the crowd within.” The billionaire financier George Soros exemplifies it. A key part of his success, he has often said, is his mental habit of stepping back from himself so he can judge his own thinking and offer a different perspective—to himself.”

“There are no certainties in life—not even death and taxes if we assign a nonzero probability to the invention of technologies that let us upload the contents of our brains into a cloud-computing network and the emergence of a future society so public-spirited and prosperous that the state can be funded with charitable donations.”

“Take the price of oil, long a graveyard topic for forecasting reputations.”

“Scientists must be able to answer the question “What would convince me I am wrong?” If they can’t, it’s a sign they have grown too attached to their beliefs.”

“Once we know the outcome of something, that knowledge skews our perception of what we thought before we knew the outcome: that’s hindsight bias. Baruch Fischhoff was the first to document the phenomenon in a set of elegant experiments.”

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Book Keywords:

disperse, habit, judge, thinking, mental, group, information, perspective, step-back, widsom, crowd, judgement, wisdom, george-soros

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