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Judgement Noise

   

Definition: Judgement Noise is a cause of variability and errors due to influences by irrelevant factors or data in judgement and decision-making. That's why noise is always undesirable.
Like cognitive biases, noise is causing errors in judgement and decision-making. However, biases cluster together while noises widely scatter when both are compared with what the accurate one is (variability).


   
   
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More on individual decision making: Anchoring Bias, Bayesian Theory, Black Swan Theory, Bounded Rationality, Cognitive Bias, more on individual decision making...

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