Practice probabilistic calibration by tracking your predictions
Assign explicit probability estimates to your predictions and track whether they come true at the right rate.
Why it works
Calibration — the match between stated confidence and actual accuracy — is a learnable skill. People who track their predictions over time and observe how often 70% confident claims actually come true develop feedback loops that correct systematic over- or under-confidence. Without this feedback, the confident feeling generated by vivid information persists uncorrected.
How to do it
- For any prediction you make, assign a percentage probability: "I think there’s a 70% chance X happens."
- Record the prediction and the outcome.
- After 20–30 predictions, check your calibration: are your 70% predictions coming true about 70% of the time?
Evidence
Calibration research (including work on superforecasters by Tetlock) shows that tracking predictions with explicit probabilities significantly improves accuracy over time through feedback-driven error correction. (observational)
Sources
- Tetlock & Gardner (2015), Superforecasting — calibration training and improvement across thousands of predictions
Common mistake
Assigning vague probabilities ("pretty likely") rather than specific numbers, which prevents meaningful calibration checks because the prediction is unfalsifiable.
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More practices for Base-Rate Neglect: Why We Ignore the Odds
- Ask the base rate before evaluating the specific case
Before judging any individual instance, first establish how often this kind of thing happens in general.
- Use reference class forecasting for project estimates
Estimate how long similar projects have taken historically before estimating your specific project.
- Update beliefs by degrees, not wholesale
Treat new information as evidence that shifts probabilities, not as proof that changes everything.
- Always identify the denominator when evaluating risk or success
When a number or story is striking, ask: "Out of how many total cases?"
- Deliberately invoke the outside view for important decisions
For any high-stakes prediction, force yourself to start with how things typically go, not how your situation feels.
- Expect regression to the mean in extreme outcomes
Unusually good or bad performance tends to be followed by more average performance — not because of what you did.
Related concepts
- Thinking, Fast and Slow, Made Usable
Two systems, the biases they create, and when to slow down
- Bayesian Thinking: How to Update Beliefs Rationally
Holding beliefs as probabilities and updating them when evidence arrives
- Anchoring Bias in Negotiation and Judgment
Why the first number wins — the mechanism, and how to set and resist anchors