The Book Club: Daniel Kahneman and Olivier Sibony
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The Wisdom of Crowds
You talk about the wisdom of crowds idea. Francis golton t great statisticion is, it was the discoverer of this. But at the same time, you sayno, vast numbers of noisysti swill converge on something that's uncannily like the right answer. Yet you make a point that actually sometimes itis unverifiable. How doou how do you get round that when it comes? Well, one of the beauties of the concept of noise is that you don't need verifiability to measure a noise. You do not need the true answer.
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