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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Concept
Economics
Significant
Concepts
Certainly
Behavioral
Loss
Aversion
Contribution
Psychology

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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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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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After a crisis we tell ourselves we understand why it happened and maintain the illusion that the world is understandable. In fact, we should accept the world is incomprehensible much of the time.
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The brain scientists are the wave of the future in the financial world. If you seek to maximize understanding, whether you're in academia or in the investment community, you'd better pay serious attention to them.
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