Wednesday, May 19, 2021

Noise.... the book is here. Kahneman, Sibony and Sunstein


In Noise, Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein show the detrimental effects of noise in many fields, including medicine, law, economic forecasting, forensic science, bail, child protection, strategy, performance reviews, and personnel selection, there is judgment, there is noise.

Some decades ago Nobel winner Fischer Black wrote the Classic Paper "Noise". Nassim Nicholas Taleb wrote much on noise - sometimes in the guise of random processes - throughout the early years of this century. Awareness of the confounding effects of noise are not new.

Bringing these minds (Kahneman, Sibony and Sunstein) together on the topic likely is new. A great difficulty with handling noise is producing strong frameworks to make the relevant ideas cohere, develop structures to analyse the phenomenon within and to figure ways to ask the "right" questions about noise. Currently, these three are likely the best shot on the planet at doing just that.

No comments:

Post a Comment