Quote

When everybody in a group is susceptible to similar biases, groups are inferior to individuals, because groups tend to be more extreme than individuals.

Daniel Kahneman

Change background

T
T
T

Change font

TAGS & TOPICS

Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Individual
Similar
Extremes
Clubs
Individuals
Biases
Tend
Susceptible
Group
Inferior
Groups
Inferiors
Everybody
Extreme

More quotes by Daniel Kahneman

Image
In a rising market, enough of your bad ideas will pay off so that you'll never learn that you should have fewer ideas.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
I enjoy being active, but I look forward to the day when I can retire to the Internet.
Daniel Kahneman
Image
It's very easy for trusted companies to mislead naive customers, and life insurance companies are trusted.
Daniel Kahneman
Image
The most effortful forms of slow thinking are those that require you to think fast.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
Through some combination of culture and biology, our minds are intuitively receptive to religion.
Daniel Kahneman
Image
In essence, the optimistic style involves taking credit for successes but little blame for failures.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
People have little idea, by and large, of the investment world. They are convinced they have an advantage.
Daniel Kahneman
Image
The dominance of conclusions over arguments is most pronounced where emotions are involved.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
We associate leadership with decisiveness. That perception of leadership pushes people to make decisions fairly quickly, lest they be seen as dithering and indecisive.
Daniel Kahneman
Image
Question: So investors shouldn't delude themselves about beating the market? Answer: They're just not going to do it. It's just not going to happen.
Daniel Kahneman
Image
The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
Daniel Kahneman
Image
What happens with fear is that probability doesn't matter very much. That is, once I have raised the possibility that something terrible can happen to your child, even though the possibility is remote, you may find it very difficult to think of anything else. Emotion becomes dominant.
Daniel Kahneman
Image
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.
Daniel Kahneman