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Money does not buy you happiness, but lack of money certainly buys you misery.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Certainly
Happiness
Money
Doe
Buys
Misery
Lack

More quotes by Daniel Kahneman

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There are some conditions where you have to trust your intuition.
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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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People just hate the idea of losing. Any loss, even a small one, is just so terrible to contemplate that they compensate by buying insurance, including totally absurd policies like air travel.
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A general limitation of the human mind is its imperfect ability to reconstruct past states of knowledge, or beliefs that have changed. Once you adopt a new view of the world (or any part of it), you immediately lose much of your ability to recall what you used to believe before your mind changed.
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It doesn't take many observations to think you've spotted a trend, and it's probably not a trend at all.
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By their very nature, heuristic shortcuts will produce biases, and that is true for both humans and artificial intelligence, but the heuristics of AI are not necessarily the human ones.
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Survival prospects are poor for an animal that is not suspicious of novelty.
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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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The premise of this book is that it is easier to recognize other people's mistakes than your own.
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Groups tend to be more extreme than individuals.
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It's very easy for trusted companies to mislead naive customers, and life insurance companies are trusted.
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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.
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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.
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We have associations to things. We have, you know, we have associations to tables and to - and to dogs and to cats and to Harvard professors, and that's the way the mind works. It's an association machine.
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Some memories come with a very compelling sense of truth about them. And that happens to be the case even with memories that are not true.
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We're generally overconfident in our opinions and our impressions and judgments.
Daniel Kahneman
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Most people are highly optimistic most of the time.
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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 effort invested in 'getting it right' should be commensurate with the importance of the decision.
Daniel Kahneman
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Optimism is normal, but some fortunate people are more optimistic than the rest of us. If you are genetically endowed with an optimistic bias, you hardly need to be told that you are a lucky person - you already feel fortunate.
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