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Policy makers, like most people, normally feel that they already know all the psychology and all the sociology they are likely to need for their decisions. I don't think they are right, but that's the way it is.

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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Way
Policy
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Already
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Sociology
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More quotes by Daniel Kahneman

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Poverty is clearly one source of emotional suffering, but there are others, like loneliness. A policy to reduce the loneliness of the elderly would certainly reduce suffering.
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Hindsight bias makes surprises vanish.
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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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Doubting what you see is a very odd experience. And doubting what you remember is a little less odd than doubting what you see. But it's also a pretty odd experience, because some memories come with a very compelling sense of truth about them, and that happens to be the case even for memories that are not true.
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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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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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The effort invested in 'getting it right' should be commensurate with the importance of the decision.
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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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The premise of this book is that it is easier to recognize other people's mistakes than your own.
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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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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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Often, the most enjoyable part of an activity is the anticipation.
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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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There are domains in which expertise is not possible. Stock picking is a good example. And in long-term political strategic forecasting, it's been shown that experts are just not better than a dice-throwing monkey.
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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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Through some combination of culture and biology, our minds are intuitively receptive to religion.
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Researchers who studied a thousand Dutch vacationers concluded that by far the greatest amount of happiness extracted from the vacation is derived from the anticipation period.
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People should be conscious of the large contribution made by anything that gets people together easily in the reduction of loneliness and emotional well-being.
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Most things that couples disagree upon aren't worth more than a day's combat.
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The evidence is unequivocal, there's a great deal more luck than skill in people getting very rich.
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