Quote

This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Difficult
Faced
Often
Essence
Without
Answer
Usually
Instead
Heuristics
Easier
Substitution
Question
Noticing
Answers
Intuitive

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If individuals are rational, there is no need to protect them against their own choices.
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Slow thinking has the feeling of something you do. It's deliberate.
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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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I'm not a great believer in self-help.
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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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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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If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable.
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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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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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I have always emphasized the willingness to discard.
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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.
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There are some conditions where you have to trust your intuition.
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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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People who are cognitively busy are also more likely to make selfish choices, use sexist language, and make superficial judgments in social situations.
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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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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.
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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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