Bias in an average error. It is also a psychological mechanism that causes systematic errors in people's judgments. It explains why an individual will make one mistake over another.
Noise is the phenomenon of individual differences. It's variability across individuals.
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CURATED FROM
A Conversation with Daniel Kahneman About “Noise” - By Evan Nesterak - Behavioral Scientist
behavioralscientist.org
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Noise is unwanted variability in judgments. Noise covers another way we make systematic errors in decision-making.
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