Noise
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Get 3 months for £0.99/mo
Noise
Buy Now for £12.99
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Narrated by:
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Todd Ross
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Olivier Sibony
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Daniel Kahneman
About this listen
‘Noise may be the most important book I've read in more than a decade. A genuinely new idea so exceedingly important you will immediately put it into practice. A masterpiece’
Angela Duckworth, author of Grit
‘An absolutely brilliant investigation of a massive societal problem that has been hiding in plain sight’
Steven Levitt, co-author of Freakonomics
From the world-leaders in strategic thinking and the multi-million copy bestselling authors of Thinking Fast and Slow and Nudge, the next big book to change the way you think.
We like to think we make decisions based on good reasoning – and that our doctors, judges, politicians, economic forecasters and employers do too. In this groundbreaking book, three world-leading behavioural scientists come together to assess the last great fault in our collective decision-making: noise.
We all make bad judgements more than we think. Noise shows us what we can do to make better ones.
©2021 Daniel Kahneman, Olivier Sibony, Cass R. Sunstein (P)2021 HarperCollins Publishers LimitedListeners also enjoyed...
Critic reviews
The Sunday Times bestseller (May 2021)
‘A tour de force of scholarship and clear writing’
New York Times
‘This is a monumental, gripping book. It is also bracing … The three authors have transformed the way we think about the world. They have looked beneath and beyond the way we make decisions and organise our lives. A follow-up of sorts to Thinking, Fast and Slow, it is a further step down the road towards a more complex and realistic grasp of human affairs that is replacing the crude simplifications of the recent past. Outstanding’
Sunday Times
‘As you’d expect from its authors, it is a rigorous approach to an important topic… There’s lots to surprise and entertain. Anyone who has found the literature on cognitive biases important will find this a valuable addition to their knowledge’ Danny Finkelstein, The Times
‘Noise is everywhere and is seriously disruptive. The authors have come up with a bold solution. The book is a satisfying journey through a big but not unsolvable problem, with plenty of fascinating case studies along the way. Humans are often bad at making decisions. But we can get better’
Martha Gill, Evening Standard
‘The greatest source of ineffective policies are often not biases, corruption or ill-will, but three “I”: Intuition, Ignorance and Inertia. This book masterfully demonstrates why the three “I” are so pervasive, and what we can do to fight them. An essential, eye opening read’
Esther Duflo, winner of a 2019 Nobel Prize
‘In Noise, the authors brilliantly apply their unique and novel insights into the flaws in human judgment to every sphere of human endeavour… Noise is a masterful achievement and a landmark in the field of psychology’
Philip E. Tetlock, co-author of Superforecasting
‘An electrifying exploration of the human mind, this book will permanently change the way we think about the scale and scope of bias’
David Lammy
Noise, more important than you thought
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Whilst interesting in terms of seeing how inconsitent methodologies can cause more problems than bias where a miss in the system against a theoretical "true value" doesn't cancel out with a mistake made in the other direction, ie when you mis-price two stocks it doesn't matter if the errors are opposite, both are errors and it's only the magintude of the error that matters.
The authors seem to assume some familiarity with their previous work, talking about System 1 thinking without the background of thinking fast and slow might cause an issue for some readers. The audiobook also has an interview with the authors at the end which seems to be a quick summary of the points made in the book, it's about half an hour and doesn't add much to the text.
There's some practical advice at the end of the book about eliminating Noise in different areas which is interesting even though it might be hard to implement because it's hard to see the results. Author's refer to decision hygenie as you're fighting an invisible enemy through methodology which can't show what you might have been protected from, you just have to trust in the process.
Noise and how to be a little bit better
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It makes you think about the processes you stand by and how you inter act with the team, how we get things done and why we do some things in the first place. I loved it this is a book for the 21sdt century!
Nudge and Thinking Fast and Slow are both worth picking up as additional reading if this interests you amongst others..
Changing by understanding for the better.
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The authors collectively consider the impact of "noise" on the way people apply judgment and also discuss the difference between noise and bias. This may include any decision we make and is applicable to investment decisions, recruitment, sentencing for criminal justice and calculations for insurance risks. Humans are fallible and it is found that a simple way to reduce noise is to consider the "wisdom of the crowd" by simple aggregation and averaging of opinions. This is not so easy, of course, with one off events and, as we know, history only runs once and it is impossible to quantify the impact of noise on unique political decisions.
There is some overlap in this book with previous works by the authors such as Kahnman's System 1 / System 2 thinking and the concept of Superforecasting as outlined in Philip Tetlock and Dan Gardner book from 2016 is also re-visited here. There is also a lot of content devoted to statistical analysis which some will love but others (myself included) will find heavy going in places.
I may be biased (see what I did there?) here, but I would give this book 4 stars. It has been proven that the first person in a group who speaks will guide the group in its collective decision, so maybe this first review will set a trend.
Where there is judgment there is noise
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Maybe Audio is not the right format
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