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All of us roughly know what memory is. I mean, memory is sort of the storage of the past. It's the storage of our personal experiences. It's a very big deal.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
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More quotes by Daniel Kahneman

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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.
Daniel Kahneman
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There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.
Daniel Kahneman
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Many people will admit that they made a mistake [putting money in dot-coms or telecoms at their peak] But that doesn’t mean that they’ve changed their mind about anything in particular. It doesn’t mean that they are now able to avoid that mistake.
Daniel Kahneman
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Alternative descriptions of the same reality evoke different emotions and different associations.
Daniel Kahneman
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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.
Daniel Kahneman
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So your emotional state really has a lot to do with what you're thinking about and what you're paying attention to.
Daniel Kahneman
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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.
Daniel Kahneman
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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.
Daniel Kahneman
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This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.
Daniel Kahneman
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We are far too willing to reject the belief that much of what we see in life is random.
Daniel Kahneman
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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.
Daniel Kahneman
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Acquisition of skills requires a regular environment, an adequate opportunity to practice, and rapid and unequivocal feedback about the correctness of thoughts and actions.
Daniel Kahneman
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You should not take your intuitions at face value.
Daniel Kahneman
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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.
Daniel Kahneman
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Question: So investors shouldn't delude themselves about beating the market? Answer: They're just not going to do it. It's just not going to happen.
Daniel Kahneman
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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.
Daniel Kahneman
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The dominance of conclusions over arguments is most pronounced where emotions are involved.
Daniel Kahneman
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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.
Daniel Kahneman
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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.
Daniel Kahneman
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You are more likely to learn something by finding surprises in your own behavior than by hearing surprising facts about people in general.
Daniel Kahneman