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Valve's former economist says Steam could produce 'better macroeconomic forecasts' than Goldman Sachs with the power of crowdsourcing and brownie points (www.pcgamer.com)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 4 points 3 months ago (1 children)

I imagine he's thinking of the thing where you get a crowd to guess the weight of a cow and then take the average of their guesses.

Plus, the people most affected by inflation aren't usually the ones attempting to forecast it.

[–] [email protected] 1 points 3 months ago

Yeah, wisdom of crowds is a thing. Maybe I misunderstood what they meant. You ask everyone to predict, use the average for whatever Supervillain plan you have, then reward people who guessed better than the fed as an incentive to keep playing?

I would worry the reward and prior knowledge of the fed forecast would interfere with the wisdom of the crowd.