Odds forecasting is a common technique for eliciting subjective probability.

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Quizplus · Accepted Answer

Odds forecasting is indeed a technique used to elicit subjective probabilities by asking individuals to express their beliefs about the likelihood of an event in terms of odds, which can then be converted into probabilities. This method is commonly used in various fields, including finance, sports betting, and risk assessment, to gauge subjective assessments of future events.

Odds Forecasting Is a Common Technique for Eliciting Subjective Probability