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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.
Daniel Kahneman
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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Require
Negotiations
Tend
Bargain
Loss
Shrinking
Especially
Bargains
Difficult
Losses
Much
Pie
People
Negotiation
Easygoing
Expanding
Allocation
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Optimistic people play a disproportionate role in shaping our lives. Their decisions make a difference they are inventors, entrepreneurs, political and military leaders - not average people. They got to where they are by seeking challenges and taking risks.
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The brain scientists are the wave of the future in the financial world. If you seek to maximize understanding, whether you're in academia or in the investment community, you'd better pay serious attention to them.
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If you're going to be unreligious, it's likely going to be due to reflecting on it and finding some things that are hard to believe.
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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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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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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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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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True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
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It's nonsense to say money doesn't buy happiness, but people exaggerate the extent to which more money can buy more happiness.
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There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.
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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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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.
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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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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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So your emotional state really has a lot to do with what you're thinking about and what you're paying attention to.
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It is the consistency of the information that matters for a good story, not its completeness. Indeed, you will often find that knowing little makes it easier to fit everything you know into a coherent pattern.
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