Is the Judgment a Lottery?

My guests in this week's Book Club podcast are Daniel Kahneman and Olivier Sibony, co-authors (with Cass R Sunstein) of Noise: A Flaw In Human Judgment. Augmenting the work on psychological bias that won Prof Kahneman a Nobel Prize, this investigation exposes a more invisible and often more impactful way in which human judgments go awry: the random-seeming variability which statisticians call noise. They tell me how it affects everything from business to academic life and the judicial system; and how we can detect it and minimise it. The answers to those questions, it turns out, are very hard for human beings (especially French ones) to accept...