Cited by 142Forecasting Techniques and ApplicationsDecision-Making and Behavioral EconomicsMulti-Criteria Decision Making

Some Comparisons Among Quadratic, Spherical, and Logarithmic Scoring Rules

Bickel, J. Eric·2007·Decision Analysis

Abstract

Strictly proper scoring rules continue to play an important role in probability assessment. Although many such rules have been developed, relatively little guidance exists as to which rule is the most appropriate. In this paper, we discuss two important properties of quadratic, spherical, and logarithmic scoring rules. From an ex post perspective, we compare their rank order properties and conclude that both quadratic and spherical scoring perform poorly in this regard, relative to logarithmic. Second, from an ex ante perspective, we demonstrate that in many situations, logarithmic scoring is the method least affected by a nonlinear utility function. These results suggest that logarithmic scoring is superior when rank order results are important and/or when the assessor has a nonlinear utility function. In addition to these results, and perhaps more important, we demonstrate that nonlinear utility induces relatively little deviation from the optimal assessment under an assumption of risk neutrality. These results provide both comfort and guidance to those who would like to use scoring rules as part of the assessment process.

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Crossref · 10.1287/deca.1070.0089

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  • Log score is a proper scoring rule that assigns greater values to models that assign high confidence to correct predictions and low confidence to incorrect predictions.

    “Log score is the logarithmic scoring rule for evaluating prediction models, this is a proper scoring rule that assigns greater values to models that assign high confidence to correct predictions, and low confidence to incorrect predictions (Bickel, 2007).”

    From Sysrev: A FAIR Platform for Data Curation and Systematic Evidence Review (2021) · cites this paper as Bickel, 2007

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Authors
Bickel, J. E.
Affiliations
Texas A&M University (US)
Corresponding author
Bickel, J. Eric
Venue
Decision Analysis
Published
2007-06
Volume
4
Issue
2
Pages
49-65
ISSN
  • 1545-8490 (ISSN-L)
  • 1545-8504
OpenAlex
W2161873643
Cited by
142
References
24
Citations by year
2026: 3 · 2025: 4 · 2024: 3 · 2023: 3 · 2022: 8 · 2021: 13 · 2020: 6 · 2019: 21 · 2018: 9 · 2017: 8 · 2016: 7 · 2015: 14 · 2014: 4 · 2013: 19 · 2012: 5
FWCI
5.70
Type
journal article
Language
en
Open access
closed
Locations
Decision Analysis (publishedVersion)
Topics
  • Social Sciences › Decision Sciences › Management Science and Operations Research › Forecasting Techniques and Applications
  • Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
  • Social Sciences › Decision Sciences › Management Science and Operations Research › Multi-Criteria Decision Making
Keywords
strictly proper scoring rules, logarithmic scoring rule, quadratic scoring rule, probability assessment, nonlinear utility functions, risk neutrality

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