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The most effortful forms of slow thinking are those that require you to think fast.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Slow
Forms
Fast
Form
Think
Thinking
Require

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I enjoy being active, but I look forward to the day when I can retire to the Internet.
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It's nonsense to say money doesn't buy happiness, but people exaggerate the extent to which more money can buy more happiness.
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Many people will admit that they made a mistake [putting money in dot-coms or telecoms at their peak] But that doesn’t mean that they’ve changed their mind about anything in particular. It doesn’t mean that they are now able to avoid that mistake.
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Our memory tells us stories, that is, what we get to keep from our experiences is a story.
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You should not take your intuitions at face value.
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If people can construct a simple and coherent story, they will feel confident regardless of how well grounded it is in reality.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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People exaggerate their confidence in their plans - something we call the planning fallacy... The existence of the plan tends to induce overconfidence.
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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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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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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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It's clear that policymakers and economists are going to be interested in the measurement of well-being primarily as it correlates with health they also want to know whether researchers can validate subjective responses with physiological indices.
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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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Groups tend to be more extreme than individuals.
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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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Often, the most enjoyable part of an activity is the anticipation.
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Experienced happiness refers to your feelings, to how happy you are as you live your life. In contrast, the satisfaction of the remembering self refers to your feelings when you think about your life.
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Acquisition of skills requires a regular environment, an adequate opportunity to practice, and rapid and unequivocal feedback about the correctness of thoughts and actions.
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We can't live in a state of perpetual doubt, so we make up the best story possible and we live as if the story were 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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