Understanding Judgment Noise

This chapter features a conversation with a Nobel laureate in psychology, focusing on his insights into human judgment and decision-making within behavioral economics. The discussion addresses the concept of 'noise'—the variability in judgments that leads to inconsistent conclusions, and its implications across fields like medicine, finance, and law. Through various examples, the chapter illustrates how systemic errors in judgment can accumulate, highlighting the need for awareness instead of relying on average performances.