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If individuals are rational, there is no need to protect them against their own choices.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Need
Needs
Rational
Individuals
Protect
Choices
Individual

More quotes by Daniel Kahneman

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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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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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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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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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Most people are highly optimistic most of the time.
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When people think of the outcomes of their decisions, they think much more short term than that. They think in terms of gains and losses.
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Psychologists really aim to be scientists, white-coat stuff, with elaborate statistics, running experiments.
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Experts don't know exactly where the boundaries of their expertise are.
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The most effortful forms of slow thinking are those that require you to think fast.
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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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People have little idea, by and large, of the investment world. They are convinced they have an advantage.
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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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Adaptation seems to be, to a substantial extent, a process of reallocating your attention.
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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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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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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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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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Establish a closing ritual. Know when to stop working. Try to end each work day the same way, too. Straighten up your desk. Back up your computer. Make a list of what you need to do tomorrow.
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An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.
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