Posted on 11/14/2012 8:36:10 AM PST by SeekAndFind
Nate Silver has gotten a lot of press for his near perfect election night predictions. In 2008 Silver gained popularity and influence after he called 49 out of 50 states. Many pundits were predicting that Silver would crash and burn in 2012. Instead, he outperformed his 2008 predictions and now that Florida has been called for president Obama, Silver can tout a perfect record 50 out of 50 states called correctly.
How did Silver do it?
Only Likely Voters Matter: This is one obvious reason Silvers method outshines everyone else. Anything other than likely voter models is useless information. This is key. Early in the race, many polling outfits poll registered voters. Silver ignores them. Likely voter models are astronomically more accurate, but they are expensive. In registered voters v. likely voters, you get what you pay for.
Weighing the Data Correctly: You have to be able to handicap the pollsters. For polling data, sample size is everything. The higher the sample size, the better the data unless the data is bad. Silver consistently fares well because he knows that all data is not created equal. Folks like Nate Silver and FiveThirtyEight blog are polling aggregators. They put together many different polling samples from many different polling outfits, and use them to get a bigger sample size – which is fine. But, the key is in how you weight the data in your model. Silver knows how to do this better than anyone. He grinds it out, interviews the pollsters, combs through their methods and doesnt take shortcuts.
Correcting for Bias: Silvers stock in trade is his ability to look at a polling outfits methodology and track record, then correctly assess how their data is biased and corrects for it. So for instance, if CNN is predicting a candidate has a 3 point lead. Silver looks at all of the factors, and assigns them a bias number – let’s say 1.7 points bias for that candidate. Silver would actually change the CNN result from a 3 point lead to a 1.3 point lead. He changes other people’s polling data to correct for their bias! Then assigns the poll a weight (higher the bias, less the weight it seems to me – Silver doesn’t give out that information), and plugs it into his model.
Math trumps ideology: FiveThirtyEights magic formula isnt public, but all along Silver gave hints as to what he was doing. In the end this is why I put so much stock in Silvers predictions. He had been telling us all what the polling would do for months. He not only predicted the elections, he predicted the behaviors of the polls for the last 2-3 months of the election cycle. This is because Silvers final bias correction was toward his own outfit. He kept this analysis in the realm of numbers, not ideology. Hes not an ideologue (self described in an NPR interview as more of a libertarian), hes a math nerd. It has paid off three elections in a row
Post-Mortems on 2012 Polling
Now that all of the polling information is out there, Silver and his team are sorting through it. As he breaks down the data, there were three things that really surprised me:
The Top Five Pollsters in 2012
Other notables
6. Reuters just out of the top five
11. Quinnipiac middle of the pack for one of the high profile polls
12. Marist
19. Zogby
Who Were the Worst Pollsters in 2012?
Rasumussen
American Research
Mason-Dixon
Gallup was dead last
Show one pollster who got the number of votes for Obama correct ~ there’s a reason they stay away from that
I will never look at these damn polls the same after what we just went through.
Too late.
remember that the one poll pulled out of Virginia and Florida because Romney was up big? How did that work out? Never heard anymore about it
Suffolk—they pulled out of FLA, NC, and VA.
“Ping to FRs own master poller. Jackmercer is one of the (VERY) few who called this election correctly. He got slaughtered for it, but he was right.”
Haha, not sure about master poller but I did basically what Nate Silver did but only in a MUCH MUCH more crude way. I put the national and state polls in an equation and only weighted by whether they included cell phones or were internet based. I also threw out Rasmussen and Gallup because if you compared them to at least 12 other polls, they were (seemingly) crazy outliers.
Turns out that Rasmussen and Gallup were definitely outliers (embarrassingly so) but I had no business throwing them out completely. But since I am a VERY much an amateur, I can forgive myself for over-reacting on that.
In retrospect, I see that internet polls did pretty decent and should not have weighted them as badly as I did. I was right to give more weight to cell phone polls. I was wrong to completely throw out Rasmussen and Gallup; should have kept them in but weighed them down significantly like Silver did.
I called Obama +1.8% nationally and got 49 out of 50 states (technically 48-1-1 since I was really unsure of CO). If I had done the things in the previous paragraph, I would have gotten closer to Nate Silver and the actual final results. I’m really going to get serious with my own model next time.
Congratulations. Living in reality is much more interesting and intellectually satisfying than living in fantasy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.