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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
Rules
Punished
Expect
Sales
Follow
Employers
Policy
Reduced
Lose
Fairness
Loses
Productivity
Pricing
Unfair
Violate
Policies
Merchants
More quotes by Daniel Kahneman
We have associations to things. We have, you know, we have associations to tables and to - and to dogs and to cats and to Harvard professors, and that's the way the mind works. It's an association machine.
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When you look at the books about well-being, you see one word - it's happiness. People do not distinguish.
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I used to hold a unitary view, in which I proposed that only experienced happiness matters, and that life satisfaction is a fallible estimate of true happiness.
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The planning fallacy is that you make a plan, which is usually a best-case scenario. Then you assume that the outcome will follow your plan, even when you should know better.
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In essence, the optimistic style involves taking credit for successes but little blame for failures.
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People like leaders who look like they are dominant, optimistic, friendly to their friends, and quick on the trigger when it comes to enemies. They like boldness and despise the appearance of timidity and protracted doubt.
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It's very easy for trusted companies to mislead naive customers, and life insurance companies are trusted.
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Experts don't know exactly where the boundaries of their expertise are.
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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.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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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.
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Most of the moments of our life - and I calculated, you know, the psychological present is said to be about three seconds long that means that, you know, in a life there are about 600 million of them in a month, there are about 600,000 - most of them don't leave a trace.
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When people believe a conclusion is true, they are also very likely to believe arguments that appear to support it, even when these arguments are unsound.
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All of us would be better investors if we just made fewer decisions.
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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.
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Adaptation seems to be, to a substantial extent, a process of reallocating your attention.
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The amount of success it takes for leaders to become overconfident isn't terribly large.
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An individual who expresses high confidence probably has a good story, which may or may not be true.
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What happens with fear is that probability doesn't matter very much. That is, once I have raised the possibility that something terrible can happen to your child, even though the possibility is remote, you may find it very difficult to think of anything else. Emotion becomes dominant.
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Most things that couples disagree upon aren't worth more than a day's combat.
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