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
attitudes decision feelings gains lose losses major pain pleasure psychology results
I think one of the major results of the psychology of decision making is that people's attitudes and feelings about losses and gains are really not symmetric. So we really feel more pain when we lose $10,000 than we feel pleasure when we get $10,000.
decision should rely
Clearly, the decision-making that we rely on in society is fallible. It's highly fallible, and we should know that.
decision feelings helping
Friends are sometimes a big help when they share your feelings. In the context of decisions, the friends who will serve you best are those who understand your feelings but are not overly impressed by them.
people decision want
My interest in well-being evolved from my interest in decision making - from raising the question of whether people know what they will want in the future and whether the things that people want for themselves will make them happy.
decision would-be made
All of us would be better investors if we just made fewer decisions.
decision intuition
When you are under time pressure for a decision, you need to follow intuition.
thinking people decision
Policy makers, like most people, normally feel that they already know all the psychology and all the sociology they are likely to need for their decisions. I don't think they are right, but that's the way it is.
leadership people decision
We associate leadership with decisiveness. That perception of leadership pushes people to make decisions fairly quickly, lest they be seen as dithering and indecisive.
thinking optimism decision
One of the major biases in risky decision making is optimism. Optimism is a source of high-risk thinking.
decision concerned
In strategic decisions, I'd be really concerned about overconfidence.
effort decision should
The effort invested in 'getting it right' should be commensurate with the importance of the decision.
keys effort decision
Spend some effort in figuring out why each decision did or did not pan out. Doing that systematically is key: really try to question the way you make decisions, and improve it.
business compared effects enormity huge
There is research on the effects of 9/11, and you know, compared to the enormity of it, it didn't have a huge effect on people's mood. They were going about their business, mostly.
We're blind to our blindness. We have very little idea of how little we know. We're not designed to know how little we know.