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In essence, the optimistic style involves taking credit for successes but little blame for failures.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Blame
Essence
Taking
Style
Successes
Littles
Failures
Little
Involves
Optimistic
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My interest in well-being evolved from my interest in decision making - from raising the question of whether people know what they will want in the future and whether the things that people want for themselves will make them happy.
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The confidence people have in their beliefs is not a measure of the quality of evidence but of the coherence of the story the mind has managed to construct.
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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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The illusion that we understand the past fosters overconfidence in our ability to predict the future.
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People just hate the idea of losing. Any loss, even a small one, is just so terrible to contemplate that they compensate by buying insurance, including totally absurd policies like air travel.
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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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Some memories come with a very compelling sense of truth about them. And that happens to be the case even with memories that are not true.
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It's clear that policymakers and economists are going to be interested in the measurement of well-being primarily as it correlates with health they also want to know whether researchers can validate subjective responses with physiological indices.
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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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Money does not buy you happiness, but lack of money certainly buys you misery.
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The premise of this book is that it is easier to recognize other people's mistakes than your own.
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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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True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
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When everybody in a group is susceptible to similar biases, groups are inferior to individuals, because groups tend to be more extreme than individuals.
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After a crisis we tell ourselves we understand why it happened and maintain the illusion that the world is understandable. In fact, we should accept the world is incomprehensible much of the time.
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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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Most people are highly optimistic most of the time.
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Friends are sometimes a big help when they share your feelings. In the context of decisions, the friends who will serve you best are those who understand your feelings but are not overly impressed by them.
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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.
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We are far too willing to reject the belief that much of what we see in life is random.
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