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Hidden Brain

Guessing Games

Hidden Brain

Hidden Brain Media

Science, Social Sciences, Performing Arts, Arts

4.642.6K Ratings

🗓️ 27 June 2017

⏱️ 27 minutes

🧾️ Download transcript

Summary

Pundits and prognosticators make predictions all the time: about everything from elections, to sports, to global affairs. This week on Hidden Brain, we explore why they're often wrong, and how we can all do it better.

Transcript

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0:00.0

This is Hidden Brain, I'm Shankar Vedanta.

0:06.0

We're surrounded by people who tell us they know what's going to happen in the future.

0:10.0

A lot of people have no idea that Trump is headed for a historic defeat.

0:17.0

Bear Sturge is fine. Don't move your money from there. That's just being silly.

0:23.0

These predictions have a few things in common.

0:26.0

The commentators have complete confidence in themselves.

0:30.0

We as the audience love to hear them make a complicated world seem simple.

0:34.0

And finally, no one ever pays a serious price for being wrong.

0:39.0

Donald Trump wins the presidency.

0:42.0

The country is winning the Super Bowl!

0:44.0

Brady has his ship!

0:47.0

Bear Sturge in the bargain bin sold to rival JP Morgan Chase for just $2 a share.

0:55.0

On today's show, our fascination with making predictions and why we may need a revolution in the way we make them.

1:01.0

If you play the game the way it really should be played, the forecasting game, you're much more subject to embarrassment.

1:08.0

We look at how some people actually are better than others at predicting what's going to happen in the future.

1:13.0

Ironically, these aren't the people you usually find on television,

1:18.0

bloating about what's going to happen next week.

1:20.0

They're ordinary people who happen to know a very important secret.

1:24.0

Predicting the future isn't about being unusually smart or especially knowledgeable.

1:29.0

It's about understanding the pitfalls in the way we think and practicing better habits of mind.

1:41.0

Phil Tetlock is a psychologist at the University of Pennsylvania.

1:44.0

Over several decades, he's shown that the predictions of so-called experts are often no better than what he calls

...

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