#470 Olivier Sibony - Noise: A Flaw in Human Judgment

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Dr. Olivier Sibony is Associate Professor at HEC Paris. He is a writer, educator and consultant specializing in strategy, strategic decision making and the organization of decision processes. His research interests center on the effect of heuristics and biases in strategic decision making and procedures to improve the quality of decisions. He is the author of Cracked It!, You're About to Make a Terrible Mistake, and, more recently, Noise: A Flaw in Human Judgment.

In this episode, we focus on Noise. We start with some definitions of judgment, biases, and noise. We discuss if noise has causes behind it. We talk about noise in specific instances, like regular vs. recurrent decisions, and give examples in hiring decisions, insurance, student evaluation, criminal punishment, medicine, weather forecasting, and others. We also talk about predictive judgment. We tackle issues like group polarization and the wisdom of crowds. Finally, we talk about solutions to tackle noise.

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