Improving out-of-population prediction: The complementary effects of model assistance and judgmental bootstrapping
We propose and test a method for out-of-population prediction termed model-assisted judgmental bootstrapping, which leverages a predictive model from one domain combined with expert judgment to generate training data and subsequently a predictive model for a new domain. In a preregistered experiment ( N =1440), we assessed the predictive accuracy of this method in increasingly challenging environments. We also analyzed the individual contributions of two techniques that underlie the method: model-assisted estimation and judgmental bootstrapping. Our findings revealed that both techniques significantly improved predictive accuracy. Furthermore, their impacts were complementary: model-assisted estimation provided the largest accuracy gains in the least demanding environment, while judgmental bootstrapping did so in the most challenging environment. Our results suggest that model-assisted judgmental bootstrapping is a promising technique for creating predictive models in domains in which outcome data are not available.
Authors
- Daniel G. Goldstein (ORCID: https://orcid.org/0000-0002-0970-5598)
- Sam Zhang (ORCID: https://orcid.org/0000-0002-0371-9526)
- Mathew D. Hardy (ORCID: https://orcid.org/0009-0001-2495-1893)
- Jessica Hullman (ORCID: https://orcid.org/0000-0001-6826-3550)
- Jake M. Hofman (ORCID: https://orcid.org/0000-0002-9364-9604)
Publication Details
- Journal
- International Journal of Forecasting
- Published
- 2024-09-17
- DOI
- https://doi.org/10.1016/j.ijforecast.2024.07.002
- Citations
- 2
- Primary Topic
- Forecasting Techniques and Applications
- Type
- article
- Field-Weighted Citation Impact
- 0.98