In some cases, the answer is “yes.” In a study of economists summarized in the HBR Blog Network entitled “Economists Are Overconfident. So Are You,” Justin Fox describes a study where economists were asked to make predictions based on analyzing numerical data alone, analyzing numerical data and scatter graphs, or analyzing just the scatter graphs. The economists who used just the numbers alone made the worst predictions. The economists who used the data and the graphs did a bit better. But…
“The economists who were shown only the graphs and none of the numerical results, meanwhile, actually got most of the answers right, or close to right.”
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