"I am profoundly skeptical about our abilities to predict the future in general, and human behavior in particular."
A prediction or forecast is a statement about a future event or about future data. Predictions are often, but not always, based upon experience or knowledge of forecasters. There is no universal agreement about the exact difference between "prediction" and "estimation"; different authors and disciplines ascribe different connotations.
"[Engineering concerns] the creative application of scientific principles to design or develop structures, machines, apparatus, or manufacturing processes, or works utilizing them singly or in combination; or to construct or operate the same with full cognizance of their design; or to forecast their behavior under specific operating conditions; all as respects an intended function, economics of operation and safety to life and property."
Prediction"Question 8. Is There a Measurable, Qualitatively Distinctive Prediction of String Theory? String theories can, in principle, make many "s" (such as the calculation of the mass ratios of s and s, Higgs masses and couplings, s, etc.). They can also make many new predictions (such as the masses of the supersymmetric partners of the observed particles, new gauge interactions, etc.). These would be sufficient to establish the validity of the theory, however in each case one can imagine (although with some difficulty) conventinal field theories coming up with similar pre or post dictions. It would be nice to predict a phenomenon, which would be accessible at observable energies and is uniquely characteristic of string theory."
Prediction"The successes of modern control theory in the design of highly accurate space navigation systems have stimulated its use in the theoretical analyses of economic and biological systems. Similarly, the effectiveness of computer simulation techniques in the macroscopic analyses of physical systems has brought into vogue the use of computer-based econometric models for purposes of forecasting, economic planning, and management."
Prediction"As with anything else, there are good and bad ways to forecast."
Prediction"Without precise predictability, control is impotent and almost meaningless. In other words, the lesser the predictability, the harder the entity or system is to control, and vice versa. If our universe actually operated on linear causality, with no surprises, uncertainty, or abrupt changes, all future events would be absolutely predictable in a sort of waveless orderliness."
Prediction"I have always believed that people have misjudged the accuracy of economic forecasting... During the 1980s and 1990s, I researched and applied methods of high frequency economic forecasting, to be used by themselves, and for objective establishment of initial conditions for longer range forecasts from structural dynamic models that carry forward the pioneering contributions of Jan Tinbergen."
Prediction