Daniel Kahneman
Daniel Kahneman
Daniel Kahnemanis an Israeli-American psychologist notable for his work on the psychology of judgment and decision-making, as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences. His empirical findings challenge the assumption of human rationality prevailing in modern economic theory...
NationalityIsraeli
ProfessionPsychologist
Date of Birth5 March 1934
CountryIsrael
law skills people
A general “law of least effort” applies to cognitive as well as physical exertion. The law asserts that if there are several ways of achieving the same goal, people will eventually gravitate to the least demanding course of action. In the economy of action, effort is a cost, and the acquisition of skill is driven by the balance of benefits and costs. Laziness is built deep into our nature.
business fighting thinking
Managers think of themselves as captains of a ship on a stormy sea. Risk for them is danger, but they are fighting it, very controlled.
essence difficult-questions heuristics
This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.
people done take-a-chance
Some achieve a reputation for great successes when in fact all they have done is take chances that reasonable people wouldn't take.
vacation dutch anticipation
Researchers who studied a thousand Dutch vacationers concluded that by far the greatest amount of happiness extracted from the vacation is derived from the anticipation period...
loss thinking people
When people think of the outcomes of their decisions, they think much more short term than that. They think in terms of gains and losses.
thinking important life-is
Nothing in life is quite as important as you think it is while you're thinking about it.
wise feelings risk
Lucky risk takers use hindsight to reinforce their feeling that their gut is very wise. Hindsight also reinforces others' trust in that individual's gut.
people diagnosis feedback
Intuitive diagnosis is reliable when people have a lot of relevant feedback. But people are very often willing to make intuitive diagnoses even when they're very likely to be wrong.
people mind amused
Endlessly amused by people's minds.
experts wrecks cockroaches
The psychologist, Paul Rozin, an expert on disgust, observed that a single cockroach will completely wreck the appeal of a bowl of cherries, but a cherry will do nothing at all for a bowl of cockroaches.
intuition
There are some conditions where you have to trust your intuition.
thinking optimism decision
One of the major biases in risky decision making is optimism. Optimism is a source of high-risk thinking.
fairness unfair employers
Employers who violate rules of fairness are punished by reduced productivity, and merchants who follow unfair pricing policies can expect to lose sales.