Monday, July 19, 2010

Information Overload Redux

We've talked often about the perils of information overload. The biggest of these is that more information usually leads to more confidence in our predictions -- but not necessarily more accuracy. In short, we become overconfident about our abilities to accurately predict whatever it is we think the information will help us predict. And that overconfidence often leads to complacency. (Just go back and look Wall Street's ability to predict the housing crisis.)

For the latest, and perhaps scariest, example of information overload, take a look at the impressive investigative piece by The Washington Post.

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