Effects of increased reporting frequency on accuracy, dispersion and confidence intervals of nonprofessional investors' earnings predictions

Using a between subjects experiment, I analyze how the frequency of reporting---weekly earnings, as opposed to quarterly earnings---affects the accuracy, dispersion and confidence intervals of earnings predictions by nonprofessional investors. I hypothesize and find that more frequent reporting results in less accurate predictions and larger dispersion of predictions for earnings with a strong seasonal pattern. I also hypothesize, but do not find support, that more frequent reporting significantly increases confidence interval widths among nonprofessional investors. Joint presentation of weekly and quarterly earnings reduces the prediction error generated by weekly reporting alone, but results in an increase in dispersion of predictions when compared to quarterly reporting alone.