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Political columnists and sports pundits are rewarded for being overconfident.
Daniel Kahneman
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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Columnists
Pundits
Rewarded
Sports
Political
More quotes by Daniel Kahneman
Establish a closing ritual. Know when to stop working. Try to end each work day the same way, too. Straighten up your desk. Back up your computer. Make a list of what you need to do tomorrow.
Daniel Kahneman
There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.
Daniel Kahneman
Managers think of themselves as captains of a ship on a stormy sea. Risk for them is danger, but they are fighting it, very controlled.
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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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In essence, the optimistic style involves taking credit for successes but little blame for failures.
Daniel Kahneman
Below an income of ... $60,000 a year, people are unhappy, and they get progressively unhappier the poorer they get. Above that, we get an absolutely flat line. ... Money does not buy you experiential happiness, but lack of money certainly buys you misery.
Daniel Kahneman
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
Individual investors predictably flock to stocks in companies that are in the news.
Daniel Kahneman
Odd as it may seem, I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.
Daniel Kahneman
True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
Daniel Kahneman
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.
Daniel Kahneman
A general limitation of the human mind is its imperfect ability to reconstruct past states of knowledge, or beliefs that have changed. Once you adopt a new view of the world (or any part of it), you immediately lose much of your ability to recall what you used to believe before your mind changed.
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The premise of this book is that it is easier to recognize other people's mistakes than your own.
Daniel Kahneman
Overconfidence is a powerful source of illusions, primarily determined by the quality and coherence of the story that you can construct, not by its validity.
Daniel Kahneman
People are really happier with friends than they are with their families or their spouse or their child.
Daniel Kahneman
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.
Daniel Kahneman
When everybody in a group is susceptible to similar biases, groups are inferior to individuals, because groups tend to be more extreme than individuals.
Daniel Kahneman
One thing we have lost, that we had in the past, is a sense of progress, that things are getting better. There is a sense of volatility, but not of progress.
Daniel Kahneman
The effort invested in 'getting it right' should be commensurate with the importance of the decision.
Daniel Kahneman
I would not advise people to buy a car or house without making a list. You will probably improve your intuitions by making a list and then sleeping on it.
Daniel Kahneman