Daniel Kahneman - Why We Make Bad Judgments
Why are we so bad at making good judgments? In this episode of the How To Academy Podcast, Daniel Kahneman, Cass Sunstein, and Olivier Sibony reveal a little-known but profoundly important phenomenon: noise.
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Show Notes
The quality of professional judgments have a huge and lasting impact on all of our lives: the decision of an A&E doctor treating a patient, a teacher grading a paper, or a high court judge delivering a sentencing should not be a matter of personal taste. And yet there is huge, unwanted variability across human judgment.
Bias has long been the star of the show when it comes to errors in decision making. Now Daniel Kahneman, Cass Sunstein and Olivier Sibony have uncovered a critical and overlooked factor: noise. Noise explains why police officers show greater leniency towards offenders who have the same name as they do; why doctors prescribe more drugs at the end of the day than at the beginning; why judicial sentences tend to be more severe in hot weather; and why stock-market performance is affected by sunshine.
In conversation with Diana Fox Carney, Kahneman, Sunstein and Sibony reveal how noise and bias both shape our thought processes – and the remedies we can take to make far better decisions and judgments.
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