Our book this month is called “Noise: A Flaw in Human Judgement” by Daniel Kahneman, Olivier Sibony, and Cass Sunstein. Daniel Kahneman is an author, psychologist and economist notable for his work on hedonic psychology, psychology of judgment and decision-making. He is also known for his work in behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences. He is also the author of Thinking Fast and Slow which we reviewed on the show last year. In this book, the authors make the distinction between different sources of deviation from the ideal target. The most obvious source of error is bias. But in many cases, noise can be as large as bias when it comes to introducing error or any unwanted form of variation.
-------------
Host: Victor Menasce
email: podcast@victorjm.com