Quote

Employers who violate rules of fairness are punished by reduced productivity, and merchants who follow unfair pricing policies can expect to lose sales.

Daniel Kahneman

Change background

T
T
T

Change font

TAGS & TOPICS

Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Policies
Merchants
Rules
Punished
Expect
Sales
Follow
Employers
Policy
Reduced
Lose
Fairness
Loses
Productivity
Pricing
Unfair
Violate

More quotes by Daniel Kahneman

Image
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.
Daniel Kahneman
Image
By their very nature, heuristic shortcuts will produce biases, and that is true for both humans and artificial intelligence, but the heuristics of AI are not necessarily the human ones.
Daniel Kahneman
Image
People are very good [at] thinking about agents. The mind is set really beautifully to think about agents. Agents have traits. Agents have behaviors. We understand agents. We form global impression of their personalities. We are really not very good at remembering sentences where the subject of the sentence is an abstract notion.
Daniel Kahneman
Image
Individual investors predictably flock to stocks in companies that are in the news.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don't know the odds. It's a big difference.
Daniel Kahneman
Image
There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.
Daniel Kahneman
Image
The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.
Daniel Kahneman
Image
In a rising market, enough of your bad ideas will pay off so that you'll never learn that you should have fewer ideas.
Daniel Kahneman
Image
If you're going to be unreligious, it's likely going to be due to reflecting on it and finding some things that are hard to believe.
Daniel Kahneman
Image
The effort invested in 'getting it right' should be commensurate with the importance of the decision.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
In essence, the optimistic style involves taking credit for successes but little blame for failures.
Daniel Kahneman
Image
Experts don't know exactly where the boundaries of their expertise are.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
It was always assumed I would be a professor. I grew up thinking it.
Daniel Kahneman
Image
We can be blind to the obvious, and we are also blind to our blindness.
Daniel Kahneman
Image
We can't live in a state of perpetual doubt, so we make up the best story possible and we live as if the story were true.
Daniel Kahneman
Image
True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
Daniel Kahneman