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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

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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

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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.
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The evidence is unequivocal, there's a great deal more luck than skill in people getting very rich.
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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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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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