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
loss ideas long
If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable.
loss psychology aversion
The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
loss pie people
Negotiations over a shrinking pie are especially difficult because they require an allocation of losses. People tend to be much more easygoing when they bargain over an expanding pie.
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.
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.
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.
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.
gains larger losses major tend terms
If you think in terms of major losses, because losses loom much larger than gains - that's a very well-established finding - you tend to be very risk-averse. When you think in terms of wealth, you tend to be much less risk-averse.
sleep thinking long-walks
Ten minutes of a smartphone in front of your nose is about the equivalent of an hour long walk in bright daylight. Imagine going for an hour long walk in bright daylight and then thinking, "Now I'll get some sleep." It ain't going to happen.
weekend average hours
The extra daily social time of 1.7 hours in weekends raises average happiness by about 2%.
bed recommendations angry
If there was one ubiquitous recommendation about marriage it was this: "Don't go to bed angry."
weekend differences weekdays
A large portion of the weekend effects is explained by differences in the amount of time spent with friends or family between weekends and weekdays.
night vacation years
If you can't take the time for a vacation right now, or even a night out with friends, put something on the calendar - even if it's a month or a year down the road. Then whenever you need a boost of happiness, remind yourself about it.
people levels study
One study found that people who just thought about watching their favorite movie actually raised their endorphin levels by 27 percent.