You’ve failed to convince me that “Lideal—Ltext is noise”, or even offer any arguments for that. Could you elaborate more please? This seems potentially very interesting and relevant.
Signal and noise depend a bit on the perspective. I apply the conception from Kahnemann and if you are interested in more, reading Kahnemann’s latest book or listening to a podcast of him speak about the book is good.
Kahnemann does go through examples of an insurance company that treated the interrater quotes for insurance policies as noise and then used machine learning to cut down on that noise.
It’s worth noting that low noise is not universally desirable. I remember some VC firm that said they had a policy that if all partners thought it should invest in a company that it would not invest. That’s because the wisdom of the crowd does not make good VC investment decisions.
You’ve failed to convince me that “Lideal—Ltext is noise”, or even offer any arguments for that. Could you elaborate more please? This seems potentially very interesting and relevant.
I agree that this is a key question. It seems to me that sometimes it might be noise and sometimes it might be creativity.
Signal and noise depend a bit on the perspective. I apply the conception from Kahnemann and if you are interested in more, reading Kahnemann’s latest book or listening to a podcast of him speak about the book is good.
Kahnemann does go through examples of an insurance company that treated the interrater quotes for insurance policies as noise and then used machine learning to cut down on that noise.
It’s worth noting that low noise is not universally desirable. I remember some VC firm that said they had a policy that if all partners thought it should invest in a company that it would not invest. That’s because the wisdom of the crowd does not make good VC investment decisions.