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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
Policy
Reduced
Lose
Fairness
Loses
Productivity
Pricing
Unfair
Violate
Policies
Merchants
Rules
Punished
Expect
Sales
Follow
Employers
More quotes by Daniel Kahneman
Experienced happiness refers to your feelings, to how happy you are as you live your life. In contrast, the satisfaction of the remembering self refers to your feelings when you think about your life.
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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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The brain scientists are the wave of the future in the financial world. If you seek to maximize understanding, whether you're in academia or in the investment community, you'd better pay serious attention to them.
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It was always assumed I would be a professor. I grew up thinking it.
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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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I'm not a great believer in self-help.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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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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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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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.
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The dominance of conclusions over arguments is most pronounced where emotions are involved.
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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.
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There is a huge wave of interest in happiness among researchers. There is a lot of happiness coaching. Everybody would like to make people happier.
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Psychologists really aim to be scientists, white-coat stuff, with elaborate statistics, running experiments.
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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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Individual investors predictably flock to stocks in companies that are in the news.
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I have always emphasized the willingness to discard.
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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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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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It doesn't take many observations to think you've spotted a trend, and it's probably not a trend at all.
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