Bias Is a Big Problem. But So Is ‘Noise.’

Society has devoted a lot of attention to the problem of bias — and rightly so. But when it comes to mistaken judgments and unfortunate decisions, there is another type of error that attracts far less attention: noise, write HEC Paris Strategy Professor Olivier Sibony with Daniel Kahneman and Cass R. Sunstein, in an opinion piece for the New York Times.