We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
Yes, there is a cost to underprediction. There is also a cost to overprediction. See B Moe, above, and contemplate.
We got over a foot of very light snow with some wind here in Goffstown. Very doable. Thanksgiving with its un-snowblowable slush was far worse.
Assistant Village Idiot
False positives are a cost that are usually ignored.
In California, the USGS proposed an earthquake early warning system. At my nuclear power plant on the coast about 75 miles from the Parkfield expected epicenter, we declined to get involved in any way. So far, no real predictions and several false positives and the USGS cancelled the program.
The cost of false positives is typically not borne by the predictor.