A Note on the Aggregation of Event Probabilities

Stephen C. Hora

Risk Analysis, 2013, vol. 33, issue 5, 909-914

Abstract: In this article, multiple forecasts given as probabilities of events are aggregated using two assumptions: calibration and conditional independence. The forecasts are treated as data and the aggregation is based on Bayes's theorem. A measure of discrimination is given and the behavior of the aggregated posterior probability is examined as the number of forecasters grows without bound. The work is motivated by recent research efforts employing large numbers of individual forecasts.

Date: 2013
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https://doi.org/10.1111/j.1539-6924.2012.01889.x

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Persistent link: https://EconPapers.repec.org/RePEc:wly:riskan:v:33:y:2013:i:5:p:909-914

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