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518: Daniel Kahneman | When Noise Destroys Our Best of Choices
The Jordan Harbinger Show
Detecting Noise: A Statistical Observation
Noise is a statistical observation that occurs when a set of judgments should be consistent but vary. It is difficult to detect noise in a single decision, unlike bias. The wisdom of crowds, as discussed in the book, reveals that groups can be collectively accurate when it comes to guessing simple things, such as the weight of a cow. This phenomenon is surprising, considering how individuals' thoughts in a group may seem puzzling.
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