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

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
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article

Improving out-of-population prediction: The complementary effects of model assistance and judgmental bootstrapping

Daniel G. Goldstein, Sam Zhang, Mathew D. Hardy, Jessica Hullman et al.
2 citations
International Journal of Forecasting
Forecasting Techniques and Applications
0.98
article

Improving out-of-population prediction: The complementary effects of model assistance and judgmental bootstrapping

Daniel G. Goldstein, Sam Zhang, Mathew D. Hardy, Jessica Hullman, Jake M. Hofman
article en
2 citations

Abstract

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.

International Journal of ForecastingVol. 41(2)
Openalex Percentile: Top 21%
Forecasting Techniques and Applications
0.98
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Improving out-of-population prediction: The complementary effects of model assistance and judgmental bootstrapping — Daniel G. Goldstein, Sam Zhang, et al. · International Journal of Forecasting (2024) | TGRS Research Map | TGRS