Masters of Uncertainty: Weather Forecasters and the Quest for Ground Truth

Though we commonly make them the butt of our jokes, weather forecasters are in fact exceptionally good at managing uncertainty. They consistently do a better job calibrating their performance than stockbrokers, physicians, or other decision-making experts precisely because they receive feedback on their decisions in near real time. Following forecasters in their quest for truth and accuracy, therefore, holds the key to the analytically elusive process of decision making as it actually happe...