No time to read? Get the main key insights from this summary of Daniel Kahneman’s Noise in just a short listen.
A few key insights from Part 1:
1. Bias and noise, also known as systematic deviation and random scatter, are two types of error.
2. Some judgments are skewed; they are consistently off the mark. Other judgments make a lot of noise and end up at different points around the target.
3. To comprehend judgment error, we must first understand both bias and noise. Noise is sometimes the more serious issue. But noise is rarely acknowledged in public discussions about human error and in organizations worldwide. The star of the show is bias.
4. There is noise everywhere when it comes to human judgments. We must overcome both noise and bias in order to improve the quality of our judgments.