ciphergoth comments on The File Drawer Effect and Conformity Bias (Election Edition) - Less Wrong

31 Post author: Salemicus 08 May 2015 04:51PM

You are viewing a comment permalink. View the original post to see all comments and the full post content.

Comments (24)

You are viewing a single comment's thread. Show more comments above.

Comment author: Lumifer 08 May 2015 08:33:25PM *  22 points [-]

The, ahem, money quote:

Interestingly, those who invested their own money in forecasting the outcome performed a lot better in predicting what would happen than did the pollsters. The betting markets had the Conservatives well ahead in the number of seats they would win right through the campaign and were unmoved in this belief throughout. Polls went up, polls went down, but the betting markets had made their mind up. The Tories, they were convinced, were going to win significantly more seats than Labour.

A bet is a tax on bullshit :-)

Comment author: ciphergoth 09 May 2015 07:33:12AM *  7 points [-]

FWIW betting odds were almost exactly 50:50 over who would be prime minister after the election right up until the BBC exit poll was announced.