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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.
Daniel Kahneman
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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Accepting
Gambles
Peace
Unacceptable
Persons
Losses
Person
Gamble
Made
Likely
Would
Otherwise
Accept
Loss
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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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True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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... sometimes when you are asked a question that is difficult, the mind doesn't stay silent if it doesn't have the answer. The mind produces something, and what it produces very characteristically is the answer to an easier but related question.
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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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You should not take your intuitions at face value.
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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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If you can't take the time for a vacation right now, or even a night out with friends, put something on the calendar - even if it's a month or a year down the road. Then whenever you need a boost of happiness, remind yourself about it.
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That's one of the real dangers of leader selection in many organizations: leaders are selected for overconfidence.
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Laziness is built deep into our nature.
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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.
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Intuitive diagnosis is reliable when people have a lot of relevant feedback. But people are very often willing to make intuitive diagnoses even when they're very likely to be wrong.
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When action is needed, optimism, even of the mildly delusional variety, may be a good thing.
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