Quote

I would not advise people to buy a car or house without making a list. You will probably improve your intuitions by making a list and then sleeping on it.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Making
Sleeping
House
List
Without
Lists
Would
Intuition
People
Improve
Car
Probably
Intuitions
Sleep
Advise

More quotes by Daniel Kahneman

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The easiest way to increase happiness is to control your use of time.
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The illusion that we understand the past fosters overconfidence in our ability to predict the future.
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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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The most effortful forms of slow thinking are those that require you to think fast.
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In a rising market, enough of your bad ideas will pay off so that you'll never learn that you should have fewer ideas.
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It doesn't take many observations to think you've spotted a trend, and it's probably not a trend at all.
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When action is needed, optimism, even of the mildly delusional variety, may be a good thing.
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We're generally overconfident in our opinions and our impressions and judgments.
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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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The planning fallacy is that you make a plan, which is usually a best-case scenario. Then you assume that the outcome will follow your plan, even when you should know better.
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We can't live in a state of perpetual doubt, so we make up the best story possible and we live as if the story were true.
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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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Intuitive diagnosis is reliable when people have a lot of relevant feedback. But people are very often willing to make intuitive diagnoses even when they're very likely to be wrong.
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The effort invested in 'getting it right' should be commensurate with the importance of the decision.
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Adaptation seems to be, to a substantial extent, a process of reallocating your attention.
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We are very influenced by completely automatic things that we have no control over, and we don't know we're doing it.
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When you look at the books about well-being, you see one word - it's happiness. People do not distinguish.
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The brain scientists are the wave of the future in the financial world. If you seek to maximize understanding, whether you're in academia or in the investment community, you'd better pay serious attention to them.
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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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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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