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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
Thinking
Decision
Sociology
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People
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Psychology
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More quotes by Daniel Kahneman
True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
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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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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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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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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.
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Our memory tells us stories, that is, what we get to keep from our experiences is a story.
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There is a huge wave of interest in happiness among researchers. There is a lot of happiness coaching. Everybody would like to make people happier.
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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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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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Groups tend to be more extreme than individuals.
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I enjoy being active, but I look forward to the day when I can retire to the Internet.
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The dominance of conclusions over arguments is most pronounced where emotions are involved.
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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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What happens with fear is that probability doesn't matter very much. That is, once I have raised the possibility that something terrible can happen to your child, even though the possibility is remote, you may find it very difficult to think of anything else. Emotion becomes dominant.
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A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.
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We have no reason to expect the quality of intuition to improve with the importance of the problem. Perhaps the contrary: high-stake problems are likely to involve powerful emotions and strong impulses to action.
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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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People have little idea, by and large, of the investment world. They are convinced they have an advantage.
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Most people are highly optimistic most of the time.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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