Evaluating Strategic Forecasters

S-Tier
Journal: American Economic Review
Year: 2018
Volume: 108
Issue: 10
Pages: 3057-3103

Authors (3)

Rahul Deb (not in RePEc) Mallesh M. Pai (not in RePEc) Maher Said (New York University (NYU))

Score contribution per author:

2.681 = (α=2.01 / 3 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Motivated by the question of how one should evaluate professional election forecasters, we study a novel dynamic mechanism design problem without transfers. A principal who wishes to hire only high-quality forecasters is faced with an agent of unknown quality. The agent privately observes signals about a publicly observable future event, and may strategically misrepresent information to inflate the principal's perception of his quality. We show that the optimal deterministic mechanism is simple and easy to implement in practice: it evaluates a single, optimally timed prediction. We study the generality of this result and its robustness to randomization and noncommitment.

Technical Details

RePEc Handle
repec:aea:aecrev:v:108:y:2018:i:10:p:3057-3103
Journal Field
General
Author Count
3
Added to Database
2026-01-25