Resisting the Certainty Premium
EpistemologyComments
The claim that confidence intervals change the energy of a discussion is anecdotal. I'd be curious to see if people actually perceive a 60% certainty as a calibration or just a lack of conviction.
Most people can't even quantify their own certainty. How do we know if someone is actually 60% sure, or if they're just using a number to sound sophisticated?
In city council meetings, this doesn't work. If you say you're 60% sure about a zoning issue, the board just looks for someone who is 100% sure, even if that person is wrong.
Suppose the board eventually realizes the confident person was wrong; wouldn't the person who admitted uncertainty be seen as the only reliable source of information in the long run? That is where the value of the interval comes in: risk management.
confidence is often a proxy for social status, not information.