Sunday, November 03, 2013

Daniel Kahneman on Subjective Confidence in Subjective Beliefs.

The confidence people have in their beliefs is not a measure of the quality of evidence [but] of the coherence of the story that the mind has managed to construct. Quite often you can construct very good stories out of very little evidence. . . . People tend to have great belief, great faith in the stories that are based on very little evidence.
and
 What’s interesting is that many a time people have intuitions that they’re equally confident about except they’re wrong. That happens through the mechanism I call “the mechanism of substitution.” You have been asked a question, and instead you answer another question, but that answer comes by itself with complete confidence, and you’re not aware that you’re doing something that you’re not an expert on because you have one answer. Subjectively, whether it’s right or wrong, it feels exactly the same. Whether it’s based on a lot of information, or a little information, this is something that you may step back and have a look at. But the subjective sense of confidence can be the same for intuition that arrives from expertise, and for intuitions that arise from heuristics. . 
Source: a nice article summarizing a chapter by Daniel Kahneman in a new book. 

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