Quote

The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Even
Quality
Belief
Story
Individual
Mostly
Tell
Beliefs
Stories
Individuals
Littles
Confidence
Little
Depends

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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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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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That's one of the real dangers of leader selection in many organizations: leaders are selected for overconfidence.
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I have always emphasized the willingness to discard.
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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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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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It was always assumed I would be a professor. I grew up thinking it.
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Survival prospects are poor for an animal that is not suspicious of novelty.
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Slow thinking has the feeling of something you do. It's deliberate.
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Researchers who studied a thousand Dutch vacationers concluded that by far the greatest amount of happiness extracted from the vacation is derived from the anticipation period.
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Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don't know the odds. It's a big difference.
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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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Hindsight bias makes surprises vanish.
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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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What happens with fear is that probability doesn't matter very much. That is, once I have raised the possibility that something terrible can happen to your child, even though the possibility is remote, you may find it very difficult to think of anything else. Emotion becomes dominant.
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People like leaders who look like they are dominant, optimistic, friendly to their friends, and quick on the trigger when it comes to enemies. They like boldness and despise the appearance of timidity and protracted doubt.
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Groups tend to be more extreme than individuals.
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It is only a slight exaggeration to say that happiness is the experience of spending time with people you love and who love you.
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The concept of happiness has to be reorganised.
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