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
knowing consistency stories
It is the consistency of the information that matters for a good story, not its completeness. Indeed, you will often find that knowing little makes it easier to fit everything you know into a coherent pattern.
views matter satisfaction
I used to hold a unitary view, in which I proposed that only experienced happiness matters, and that life satisfaction is a fallible estimate of true happiness.
thinking self feelings
Experienced happiness refers to your feelings, to how happy you are as you live your life. In contrast, the satisfaction of the remembering self refers to your feelings when you think about your life.
thinking issues age
Except for some effects that I attribute mostly to age, my intuitive thinking is just as prone to overconfidence, extreme predictions, and the planning fallacy as it was before I made a study of these issues.
average return timing
The average investor's return is significantly lower than market indices due primarily to market timing.
doe misery
Money does not buy you happiness, but lack of money certainly buys you misery.
successful years interesting
Most successful pundits are selected for being opinionated, because it's interesting, and the penalties for incorrect predictions are negligible. You can make predictions, and a year later people won't remember them.
loss would-be accepting
A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.
tired somewhere-else people
You know, the standard state for people is 'mildly pleasant.' Negative emotions are quite rare, and extremely positive emotions are rare. But people are mildly pleased most of the time, they're mildly tired a lot of the time, and they wish they were somewhere else a substantial part of the time - but mostly they're mildly pleased.
champion world satisfaction
We know that the French are very different from the Americans in their satisfaction with life. They're much less satisfied. Americans are pretty high up there, while the French are quite low - the world champions in life satisfaction are actually the Danes.
strong powerful intuition
We have no reason to expect the quality of intuition to improve with the importance of the problem. Perhaps the contrary: high-stake problems are likely to involve powerful emotions and strong impulses to action.
dog cat mind
We have associations to things. We have, you know, we have associations to tables and to - and to dogs and to cats and to Harvard professors, and that's the way the mind works. It's an association machine.
world facts illusion
After a crisis we tell ourselves we understand why it happened and maintain the illusion that the world is understandable. In fact, we should accept the world is incomprehensible much of the time.
memories mean past
All of us roughly know what memory is. I mean, memory is sort of the storage of the past. It's the storage of our personal experiences. It's a very big deal.