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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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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Used
Experienced
Matter
Satisfaction
Life
Matters
View
Hold
Unitary
Views
Fallible
Happiness
Estimate
True
Proposed
More quotes by Daniel Kahneman
The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.
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When action is needed, optimism, even of the mildly delusional variety, may be a good thing.
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You should not take your intuitions at face value.
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Optimism is normal, but some fortunate people are more optimistic than the rest of us. If you are genetically endowed with an optimistic bias, you hardly need to be told that you are a lucky person - you already feel fortunate.
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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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Except for some effects that I attribute mostly to age, my intuitive thinking is just as prone to overconfidence, extreme predictions, and the planning fallacy as it was before I made a study of these issues.
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People talk of the new economy and of reinventing themselves in the workplace, and in that sense most of us are less secure.
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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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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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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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You are more likely to learn something by finding surprises in your own behavior than by hearing surprising facts about people in general.
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All of us would be better investors if we just made fewer decisions.
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People have little idea, by and large, of the investment world. They are convinced they have an advantage.
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People are very good [at] thinking about agents. The mind is set really beautifully to think about agents. Agents have traits. Agents have behaviors. We understand agents. We form global impression of their personalities. We are really not very good at remembering sentences where the subject of the sentence is an abstract notion.
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The effort invested in 'getting it right' should be commensurate with the importance of the decision.
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Adaptation seems to be, to a substantial extent, a process of reallocating your attention.
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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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People are really happier with friends than they are with their families or their spouse or their child.
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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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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.
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