Quote

The planning fallacy is that you make a plan, which is usually a best-case scenario. Then you assume that the outcome will follow your plan, even when you should know better.

Daniel Kahneman

Change background

T
T
T

Change font

TAGS & TOPICS

Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Make
Case
Fallacy
Follow
Scenarios
Usually
Outcome
Plans
Outcomes
Cases
Assume
Best
Planning
Better
Assuming
Even
Plan
Scenario

More quotes by Daniel Kahneman

Image
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.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
The dominance of conclusions over arguments is most pronounced where emotions are involved.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.
Daniel Kahneman
Image
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
Image
True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
Daniel Kahneman
Image
We are far too willing to reject the belief that much of what we see in life is random.
Daniel Kahneman
Image
All of us would be better investors if we just made fewer decisions.
Daniel Kahneman
Image
When you look at the books about well-being, you see one word - it's happiness. People do not distinguish.
Daniel Kahneman
Image
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
Image
People exaggerate their confidence in their plans - something we call the planning fallacy... The existence of the plan tends to induce overconfidence.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
Money does not buy you happiness, but lack of money certainly buys you misery.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
Slow thinking has the feeling of something you do. It's deliberate.
Daniel Kahneman
Image
Odd as it may seem, I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.
Daniel Kahneman
Image
A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.
Daniel Kahneman
Image
An individual who expresses high confidence probably has a good story, which may or may not be true.
Daniel Kahneman
Image
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.
Daniel Kahneman