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Groups tend to be more extreme than individuals.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Individual
Extreme
Extremes
Individuals
Tend
Groups

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In essence, the optimistic style involves taking credit for successes but little blame for failures.
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It was always assumed I would be a professor. I grew up thinking it.
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When people believe a conclusion is true, they are also very likely to believe arguments that appear to support it, even when these arguments are unsound.
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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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People are very good [at] thinking about agents. The mind is set really beautifully to think about agents. Agents have traits. Agents have behaviors. We understand agents. We form global impression of their personalities. We are really not very good at remembering sentences where the subject of the sentence is an abstract notion.
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Political columnists and sports pundits are rewarded for being overconfident.
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Overconfidence is a powerful source of illusions, primarily determined by the quality and coherence of the story that you can construct, not by its validity.
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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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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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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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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 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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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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Except for some effects that I attribute mostly to age, my intuitive thinking is just as prone to overconfidence, extreme predictions, and the planning fallacy as it was before I made a study of these issues.
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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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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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Our memory tells us stories, that is, what we get to keep from our experiences is a story.
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We have associations to things. We have, you know, we have associations to tables and to - and to dogs and to cats and to Harvard professors, and that's the way the mind works. It's an association machine.
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The concept of happiness has to be reorganised.
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