Open Access Te Herenga Waka-Victoria University of Wellington
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Forecasting Decisons in Conflicts: Analogy, Game Theory, Unaided Judgement, and Simulation Compared

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posted on 2021-11-07, 21:07 authored by Green, Kesten Charles

There has been surprisingly little research on how best to predict decisions in conflicts. Managers commonly use their unaided judgement for the task. Game theory and a disciplined use of analogies have been recommended. When tested, experts using their unaided judgement and game theorists performed no better than chance. Experts using structured analogies performed better than chance, but the most accurate forecasts were provided by simulated interaction using student role players. Twenty-one game theorists made 98 forecasts for eight diverse conflicts. Forty-one experts in conflicts made 60 solo forecasts using structured analogies and 96 solo forecasts using unaided judgement (a further seven provided collaborative forecasts only) while 492 participants made 105 forecasts in simulated interactions. Overall, one-in-three forecasts by game theorists and by experts who did not use a formal method were correct. Forecasters who used structured analogies were correct for 45 percent and forecasts from simulated interactions were correct for 62 percent of forecasts. Analysis using alternative measures of accuracy does not affect the findings. Neither expertise nor collaboration appear to affect accuracy. The findings are at odds with the opinions of experts, who expected experts to be more accurate than students regardless of the method used.

History

Copyright Date

2003-01-01

Date of Award

2003-01-01

Publisher

Te Herenga Waka—Victoria University of Wellington

Rights License

Author Retains Copyright

Degree Discipline

Management

Degree Grantor

Te Herenga Waka—Victoria University of Wellington

Degree Level

Doctoral

Degree Name

Doctor of Philosophy

Victoria University of Wellington Item Type

Awarded Doctoral Thesis

Language

en_NZ

Victoria University of Wellington School

Victoria Management School

Advisors

Davies, John; Daellenbach, Urs