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All of us would be better investors if we just made fewer decisions.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Fewer
Decisions
Decision
Better
Made
Would
Investors

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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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In a rising market, enough of your bad ideas will pay off so that you'll never learn that you should have fewer ideas.
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Intuitive diagnosis is reliable when people have a lot of relevant feedback. But people are very often willing to make intuitive diagnoses even when they're very likely to be wrong.
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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.
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Laziness is built deep into our nature.
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If you can't take the time for a vacation right now, or even a night out with friends, put something on the calendar - even if it's a month or a year down the road. Then whenever you need a boost of happiness, remind yourself about it.
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A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.
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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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Odd as it may seem, I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.
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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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We have no reason to expect the quality of intuition to improve with the importance of the problem. Perhaps the contrary: high-stake problems are likely to involve powerful emotions and strong impulses to action.
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We associate leadership with decisiveness. That perception of leadership pushes people to make decisions fairly quickly, lest they be seen as dithering and indecisive.
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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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A large portion of the weekend effects is explained by differences in the amount of time spent with friends or family between weekends and weekdays.
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Most things that couples disagree upon aren't worth more than a day's combat.
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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.
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People who are cognitively busy are also more likely to make selfish choices, use sexist language, and make superficial judgments in social situations.
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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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You're surprised by something, but you don't really know what surprised you you recognize someone, but you don't really know what cues cause you to recognize that person.
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Hindsight bias makes surprises vanish.
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