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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
Instead
Heuristics
Easier
Substitution
Question
Noticing
Answers
Intuitive
Difficult
Faced
Often
Essence
Without
Answer
Usually
More quotes by Daniel Kahneman
Doubting what you see is a very odd experience. And doubting what you remember is a little less odd than doubting what you see. But it's also a pretty odd experience, because some memories come with a very compelling sense of truth about them, and that happens to be the case even for memories that are not true.
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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.
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Most things that couples disagree upon aren't worth more than a day's combat.
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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.
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Experts don't know exactly where the boundaries of their expertise are.
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Individual investors predictably flock to stocks in companies that are in the news.
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The effort invested in 'getting it right' should be commensurate with the importance of the decision.
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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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There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.
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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.
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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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Hindsight bias makes surprises vanish.
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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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Managers think of themselves as captains of a ship on a stormy sea. Risk for them is danger, but they are fighting it, very controlled.
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Intelligence is not only the ability to reason it is also the ability to find relevant material in memory and to deploy attention when needed.
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The dominance of conclusions over arguments is most pronounced where emotions are involved.
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