Books Applied Podcast - Noise by Daniel Kahneman, Olivier Sibony and Cass R. Sunstein
Books Applied Podcast
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Is Noise a Better Way to Reduce Error Than to Reduce Bias?
Noise means that we're spread out all over the place. We should be all having the same decision theoretically in the same situation. So fixing noise is, we'll do more to reduce error in the system than fixing bias. If you have a normal distribution bell curve, your noise is far worse than an entire standard deviation of bias.
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