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Daniel Kahneman on Cutting Through the Noise

Conversations with Tyler

00:00

Is Noise Just a Cost?

Wen: There is one condition under which noise is very useful, and that if there is a selection process. But say it were always transparent, who would be the winners or losers from a given decision? Wen: Wouldn't we be too emotional, too polarized, engaging in too much rent seeking? And having an ambiguity as to cause and effect is in part what allows us to get along with each other?

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