Tuesday, August 11, 2015

Using Prediction Markets of Market Scoring Rule to Forecast Infectious Diseases: A Case Study in Taiwan

Below:  Epidemic prediction markets


Below:  Prediction value of confirmed cases of severe complicated influenza case



Epidemic Prediction Markets (EPM) was more accurate in 701 out of 1,085 prediction events than the traditional baseline of historical average and the winning ratio of EPM versus AVG was 64.6 % for the target week. For the absolute prediction error of five diseases indicators of three infectious diseases, EPM was more accurate for the target week than AVG except for dengue fever confirmed cases. The winning ratios of EPM versus AVG for the confirmed cases of severe complicated influenza case, the rate of enterovirus infection, and the rate of influenza-like illness in the target week were 69.6%, 83.9 and 76.0%, respectively; instead, for the prediction of the confirmed cases of dengue fever and the confirmed cases of severe complicated enterovirus infection, the winning ratios of EPM were all below 50%.

Except confirmed cases of dengue fever, EPM provided accurate, continuous and real-time predictions of four indicators of three infectious diseases for the target week in Taiwan and outperformed the historical average data of infectious diseases.

Read more at:   http://ht.ly/QL9hp MT @BMC_series

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