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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
Individuals
Protect
Choices
Individual
Need
Needs
Rational

More quotes by Daniel Kahneman

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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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The amount of success it takes for leaders to become overconfident isn't terribly large.
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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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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 loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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We are far too willing to reject the belief that much of what we see in life is random.
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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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Political columnists and sports pundits are rewarded for being overconfident.
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All of us would be better investors if we just made fewer decisions.
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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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I'm not a great believer in self-help.
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We're generally overconfident in our opinions and our impressions and judgments.
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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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There are some conditions where you have to trust your intuition.
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Friends are sometimes a big help when they share your feelings. In the context of decisions, the friends who will serve you best are those who understand your feelings but are not overly impressed by them.
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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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It was always assumed I would be a professor. I grew up thinking it.
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There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.
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Most of the moments of our life - and I calculated, you know, the psychological present is said to be about three seconds long that means that, you know, in a life there are about 600 million of them in a month, there are about 600,000 - most of them don't leave a trace.
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You are more likely to learn something by finding surprises in your own behavior than by hearing surprising facts about people in general.
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