From Expert predictions: hard and soft by Steven Hsu:
"...good amateurs (i.e., smart people who think probabilistically and are well read) typically perform as well as or better than area experts (e.g., PhDs in Social Science, History, Government; MBAs) when it comes to predicting real world outcomes. The marginal returns (in predictive power) to special "expertise" in soft subjects are small.....
In technical subjects, such as chemistry or physics or mathematics, experts vastly outperform lay people even on questions related to everyday natural phenomena (let alone specialized topics). "
"...good amateurs (i.e., smart people who think probabilistically and are well read) typically perform as well as or better than area experts (e.g., PhDs in Social Science, History, Government; MBAs) when it comes to predicting real world outcomes. The marginal returns (in predictive power) to special "expertise" in soft subjects are small.....
In technical subjects, such as chemistry or physics or mathematics, experts vastly outperform lay people even on questions related to everyday natural phenomena (let alone specialized topics). "
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