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
emotional errors people
To better avoid errors, you should talk to people who disagree with you and you should talk to people who are not in the same emotional situation you are.
hate loss air
People just hate the idea of losing. Any loss, even a small one, is just so terrible to contemplate that they compensate by buying insurance, including totally absurd policies like air travel.
sleep car people
I would not advise people to buy a car or house without making a list. You will probably improve your intuitions by making a list and then sleeping on it.
clever ideas trying
I don't try to be clever at all. The idea that I could see what no one else can is an illusion.
mistake book people
The premise of this book is that it is easier to recognize other people's mistakes than your own.
ideas slow-down ifs
If there is time to reflect, slowing down is likely to be a good idea.
book thinking cases
It's not a case of: 'Read this book and then you'll think differently. I've written this book, and I don't think differently.
stories may individual
An individual who expresses high confidence probably has a good story, which may or may not be true.
skills culture aberration
The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry.
stars perfect soldier
We were required to predict a soldier's performance in officer training and in combat, but we did so by evaluating his behavior over one hour in an artificial situation. This was a perfect instance of a general rule that I call WYSIATI, "What you see is all there is." We had made up a story from the little we knew but had no way to allow for what we did not know about the individual's future, which was almost everything that would actually matter. When you know as little as we did, you should not make extreme predictions like "He will be a star."
difficult-questions people answers
People who face a difficult question often answer an easier one instead, without realizing it.
mind sound chance
An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.
sports political columnists
Political columnists and sports pundits are rewarded for being overconfident.
opinion judgment impression
We're generally overconfident in our opinions and our impressions and judgments.