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Our memory tells us stories, that is, what we get to keep from our experiences is a story.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Tells
Experiences
Memory
Memories
Story
Keep
Stories

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The most effortful forms of slow thinking are those that require you to think fast.
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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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I used to hold a unitary view, in which I proposed that only experienced happiness matters, and that life satisfaction is a fallible estimate of true happiness.
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The amount of success it takes for leaders to become overconfident isn't terribly large.
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Most things that couples disagree upon aren't worth more than a day's combat.
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The effort invested in 'getting it right' should be commensurate with the importance of the decision.
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One thing we have lost, that we had in the past, is a sense of progress, that things are getting better. There is a sense of volatility, but not of progress.
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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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We're generally overconfident in our opinions and our impressions and judgments.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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Optimism is normal, but some fortunate people are more optimistic than the rest of us. If you are genetically endowed with an optimistic bias, you hardly need to be told that you are a lucky person - you already feel fortunate.
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Hindsight bias makes surprises vanish.
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You should not take your intuitions at face value.
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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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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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Intuitive diagnosis is reliable when people have a lot of relevant feedback. But people are very often willing to make intuitive diagnoses even when they're very likely to be wrong.
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Poverty is clearly one source of emotional suffering, but there are others, like loneliness. A policy to reduce the loneliness of the elderly would certainly reduce suffering.
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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.
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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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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.
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