TY - JOUR
T1 - Precision and accuracy of judgmental estimation
AU - Yaniv, Ilan
AU - Foster, Dean P.
PY - 1997
Y1 - 1997
N2 - Whereas probabilistic calibration has been a central normative concept of accuracy in previous research on interval estimates, we suggest here that normative approaches for the evaluation of judgmental estimates should consider the communicative interaction between the individuals who produce the judgments and those who receive or use them for making decisions. We analyze precision and error in judgment and consider the role of the accuracy-informativeness trade-off (Yaniv and Foster, 1995) in the communication of estimates. The results shed light on puzzling findings reported earlier in the literature concerning the calibration of subjective confidence intervals.
AB - Whereas probabilistic calibration has been a central normative concept of accuracy in previous research on interval estimates, we suggest here that normative approaches for the evaluation of judgmental estimates should consider the communicative interaction between the individuals who produce the judgments and those who receive or use them for making decisions. We analyze precision and error in judgment and consider the role of the accuracy-informativeness trade-off (Yaniv and Foster, 1995) in the communication of estimates. The results shed light on puzzling findings reported earlier in the literature concerning the calibration of subjective confidence intervals.
KW - Accuracy-informativeness trade-off
KW - Graininess of judgment
KW - Judgmental estimation
KW - Subjective confidence interval
UR - http://www.scopus.com/inward/record.url?scp=21444444215&partnerID=8YFLogxK
U2 - 10.1002/(SICI)1099-0771(199703)10:1<21::AID-BDM243>3.0.CO;2-G
DO - 10.1002/(SICI)1099-0771(199703)10:1<21::AID-BDM243>3.0.CO;2-G
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AN - SCOPUS:21444444215
SN - 0894-3257
VL - 10
SP - 21
EP - 32
JO - Journal of Behavioral Decision Making
JF - Journal of Behavioral Decision Making
IS - 1
ER -