5 minute summaries
1 quote, 3 ideas & 1 question from each episode
__________
17 May 2021
48mins
Owltail Summaries
1 quote, 3 ideas & 1 question from each episode
_________
Our Noisy Minds
17 May 2021
48mins
Quote
"Wherever there is judgement, there is noise, and even when we know this, there's more of it than we think"
Ideas
1
Variability is a good thing in any endeavour that allows you to select the better option.
But variability in the absence of being able to choose, results in a sheer loss of accuracy.
Noise, at least in psychology, is "unwanted variability".
Noise, at least in psychology, is "unwanted variability".
1
Variability is a good thing in any endeavour that allows you to select the better option.
But variability in the absence of being able to choose, results in a sheer loss of accuracy.
Noise, at least in psychology, is "unwanted variability".
Noise, at least in psychology, is "unwanted variability".
2
When you take multiple independent judgements and average them, you eliminate noise.
The more independent judgements, the more accurate it is.
But when we don't have the luxury of getting more people's views, asking each individual or even yourself the same questions across different time points can lead to better results.
Your own average response is often better than any individual response, because you've often asked yourself how your previous judgements could be wrong.
But when we don't have the luxury of getting more people's views, asking each individual or even yourself the same questions across different time points can lead to better results.
Your own average response is often better than any individual response, because you've often asked yourself how your previous judgements could be wrong.
2
When you take multiple independent judgements and average them, you eliminate noise.
The more independent judgements, the more accurate it is.
But when we don't have the luxury of getting more people's views, asking each individual or even yourself the same questions across different time points can lead to better results.
Your own average response is often better than any individual response, because you've often asked yourself how your previous judgements could be wrong.
But when we don't have the luxury of getting more people's views, asking each individual or even yourself the same questions across different time points can lead to better results.
Your own average response is often better than any individual response, because you've often asked yourself how your previous judgements could be wrong.
3
In some cases, machines can make better judgements than humans because it will always return the same output for any given input, it's without noise.
Despite this, our psychological irrationality leads to people's threshold of accuracy for a machine being significantly higher than that of other humans.
Resulting in people choosing humans over machines despite knowing machines would lead to statistically better outcomes.
Resulting in people choosing humans over machines despite knowing machines would lead to statistically better outcomes.
3
In some cases, machines can make better judgements than humans because it will always return the same output for any given input, it's without noise.
Despite this, our psychological irrationality leads to people's threshold of accuracy for a machine being significantly higher than that of other humans.
Resulting in people choosing humans over machines despite knowing machines would lead to statistically better outcomes.
Resulting in people choosing humans over machines despite knowing machines would lead to statistically better outcomes.
Questions
1
Can you think of a situation where variability is good and another where variability is bad?
1
Can you think of a situation where variability is good and another where variability is bad?
What else is in the episode
1
The definition of noise, how it's often hidden and how it differs to biases
1
The definition of noise, how it's often hidden and how it differs to biases
2
Significant examples of how noise affects us both individually but also societies and corporations
2
Significant examples of how noise affects us both individually but also societies and corporations
3
How to detect and then fix noise
3
How to detect and then fix noise
Who is Daniel Kahneman?
1
A Nobel prize winning psychologist and economist notable for his work on the psychology of judgment, decision-making & behavioural economics.
1
A Nobel prize winning psychologist and economist notable for his work on the psychology of judgment, decision-making & behavioural economics.
Related episodes
Explore More
