Consistency among alternative performance measures in an applied judgement setting
The extent to which different performance measures can lead to different conclusions about human performance is investigated in a task involving the prediction of experts' ratings of the quality of corporate bonds. Results produced by the traditional correlational performance measure - with respect to both the relative performance of 'man' versus model and the effects of feedback on performance - are compared with results produced by five alternative measures including mean absolute error, mean squared error, and various types of 'hit rates'. The correlational measure produces results that are moderately consistent with those produced by the other five measures in this applied prediction setting. Potential implications of using alternative performance measures in applied settings, especially the need to identify appropriate loss functions, are emphasized. © 1987.
Duke Scholars
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Related Subject Headings
- Experimental Psychology
- 5204 Cognitive and computational psychology
- 5202 Biological psychology
- 5201 Applied and developmental psychology
- 1702 Cognitive Sciences
- 1701 Psychology
Citation
Published In
DOI
ISSN
Publication Date
Volume
Issue
Start / End Page
Related Subject Headings
- Experimental Psychology
- 5204 Cognitive and computational psychology
- 5202 Biological psychology
- 5201 Applied and developmental psychology
- 1702 Cognitive Sciences
- 1701 Psychology