No matter who wins the presidential election, Nate Silver was right - The Washington Post - 1 views
www.washingtonpost.com/...6-ba59-a7d93165c6d4_story.html
prediction election president trends forecasting psychology
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I don’t fault Silver for his caution. It’s honest. What it really says is he doesn’t know with much confidence what’s going to happen
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That’s because there’s a lot of human caprice and whim in electoral behavior that can’t always be explained or predicted with scientific precision. Politics ain’t moneyball. Good-quality polls give an accurate sense of where a political race is at a point in time, but they don’t predict the future.
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In his hedged forecasts this time, Silver appears to be acknowledging that polling and historical patterns don’t always capture what John Maynard Keynes, in his classic 1936 economic General Theory, described as “animal spirits.”
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There is, Keynes wrote, “the instability due to the characteristic of human nature that a large proportion of our positive activities depend on spontaneous optimism rather than on a mathematical expectation, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as a result of animal spirits — of a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.”