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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
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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Unfair
Violate
Policies
Merchants
Rules
Punished
Expect
Sales
Follow
Employers
Policy
Reduced
Lose
Fairness
Loses
Productivity
Pricing
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All of us would be better investors if we just made fewer decisions.
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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.
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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.
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That's one of the real dangers of leader selection in many organizations: leaders are selected for overconfidence.
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We can be blind to the obvious, and we are also blind to our blindness.
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We are very influenced by completely automatic things that we have no control over, and we don't know we're doing it.
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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.
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