| I find the modeling super useful, many conventional media outlets still don’t properly communicate probabilities to their audience. For instance, I vividly remember the following exchange between Nate and some news anchor in during one of the 2016 conventions: Anchor: So Nate, you say Trump has a 25% chance of winning, can you tell us exactly what that means? Nate: Sure. So imagine I flipped two quarters, and they both came up heads. In that scenario, Trump wins. Anchor: (shocked) Wait but that’s… that’s a thing that actually happens! You’re saying Trump has an actual chance of winning? Nate: Well I’d rather be Hillary than Trump right now, but yes, people shouldn’t be that surprised if Trump wins, his chances aren’t insignificant. I remember people in October still saying that Nate had to be wrong, that there was just no way Trump could win. There was even a growing market for what I would now call “cope forecasts” that “unskewed” the results to show that, really, Hillary had a 99% chance of winning, just like you knew she did (all of these people looked extremely foolish after the election was over). I also feel like good models provide valuable pushback against media narratives that try to characterize the “closeness” of a race. In 2016, people wanted to hear that Trump had no chance of winning, but Nate/538 correctly pushed back that the race was actually pretty close and both candidates had a good chance. And he did the opposite in 2012: Pundits wanted to cast Obama and Romney as being neck-and-neck (which makes for a more exciting story) and Nate had the stats to push back that actually the race was not very close at all. If Romney had won in 2012, Nate would’ve had to eat crow, but Romney didn’t win. Nate and 538 also do senate races, which are super valuable if you’re figuring out which candidates to donate money to. Often there are Democratic candidates in totally doomed races against Republicans I really don’t like, and the data helps me look at those situations and go “yeah I hate Lindsey Graham, but his challenger has no chance, I’m going to donate to the milquetoast Nevada senator whose race is on a knife’s edge instead”. I could probably just look up polls, but the way Nate/538 process the polls into results with error bars and probabilities makes it a lot easier to reason about. |
25%, 15%, 5%, even 2% chances happen with a decent amount of frequency. I don't understand how people can say that people don't understand probability because they think a 25% chance won't happen, but then turn around and treat a 15% chance the very same way.
[1] https://www.nytimes.com/interactive/2016/upshot/presidential... [2] https://web.archive.org/web/20171120175008/https://election....