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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
Easier
Substitution
Question
Noticing
Answers
Intuitive
Difficult
Faced
Often
Essence
Without
Answer
Usually
Instead
Heuristics

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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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Laziness is built deep into our nature.
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Friends are sometimes a big help when they share your feelings. In the context of decisions, the friends who will serve you best are those who understand your feelings but are not overly impressed by them.
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Hindsight bias makes surprises vanish.
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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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Odd as it may seem, I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.
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In essence, the optimistic style involves taking credit for successes but little blame for failures.
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Question: So investors shouldn't delude themselves about beating the market? Answer: They're just not going to do it. It's just not going to happen.
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Through some combination of culture and biology, our minds are intuitively receptive to religion.
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I would not advise people to buy a car or house without making a list. You will probably improve your intuitions by making a list and then sleeping on it.
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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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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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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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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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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 easiest way to increase happiness is to control your use of time.
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Most things that couples disagree upon aren't worth more than a day's combat.
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My interest in well-being evolved from my interest in decision making - from raising the question of whether people know what they will want in the future and whether the things that people want for themselves will make them happy.
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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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