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Would a world without forecasting errors be a better world?
They must compensate suppliers for any forecasting errors.
Would a life lived without forecasting errors be a richer life?
Paradoxically, one can make long-term predictions on the basis of the prevalence of forecasting errors.
The Congressional Budget Office's consistent forecasting errors arose not from any partisan bias, but from its methods of projection.
The biggest forecasting errors were made when looking at the prospects for the next year, rather than the current year.
Even so, Gilbert is currently working on a complex experiment in which he has made affective forecasting errors "go away".
The psychologists Dan Gilbert and Timothy Wilson have written about what they call "affective forecasting" errors, the inability of humans to predict their own future.
In fact, in his recent writings, he has wondered whether forecasting errors might somehow serve a larger functional purpose he doesn't yet understand.
To Loewenstein, who is especially attendant to the friction between his emotional and deliberative processes, a life without forecasting errors would most likely be a better, happier life.
* * * The psychologists Dan Gilbert and Timothy Wilson have written about what they call "affective forecasting" errors, the inability of humans to predict their own future.
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