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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.
Daniel Kahneman
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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Happiness
Doesn
Money
People
Exaggerate
Extent
Nonsense
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Doubting what you see is a very odd experience. And doubting what you remember is a little less odd than doubting what you see. But it's also a pretty odd experience, because some memories come with a very compelling sense of truth about them, and that happens to be the case even for memories that are not true.
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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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