Quote

People just hate the idea of losing. Any loss, even a small one, is just so terrible to contemplate that they compensate by buying insurance, including totally absurd policies like air travel.

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
Policy
Absurd
Small
Totally
Idea
Including
Compensate
Hate
Air
Contemplate
Ideas
Travel
Contemplating
Even
Losing
Insurance
Like
Loss
Policies
People
Terrible
Buying

More quotes by Daniel Kahneman

Image
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.
Daniel Kahneman
Image
People exaggerate their confidence in their plans - something we call the planning fallacy... The existence of the plan tends to induce overconfidence.
Daniel Kahneman
Image
We have no reason to expect the quality of intuition to improve with the importance of the problem. Perhaps the contrary: high-stake problems are likely to involve powerful emotions and strong impulses to action.
Daniel Kahneman
Image
I have always emphasized the willingness to discard.
Daniel Kahneman
Image
It is the consistency of the information that matters for a good story, not its completeness. Indeed, you will often find that knowing little makes it easier to fit everything you know into a coherent pattern.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
... sometimes when you are asked a question that is difficult, the mind doesn't stay silent if it doesn't have the answer. The mind produces something, and what it produces very characteristically is the answer to an easier but related question.
Daniel Kahneman
Image
The evidence is unequivocal, there's a great deal more luck than skill in people getting very rich.
Daniel Kahneman
Image
The illusion that we understand the past fosters overconfidence in our ability to predict the future.
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
Optimism is normal, but some fortunate people are more optimistic than the rest of us. If you are genetically endowed with an optimistic bias, you hardly need to be told that you are a lucky person - you already feel fortunate.
Daniel Kahneman
Image
We are far too willing to reject the belief that much of what we see in life is random.
Daniel Kahneman
Image
There are some conditions where you have to trust your intuition.
Daniel Kahneman
Image
All of us roughly know what memory is. I mean, memory is sort of the storage of the past. It's the storage of our personal experiences. It's a very big deal.
Daniel Kahneman
Image
So your emotional state really has a lot to do with what you're thinking about and what you're paying attention to.
Daniel Kahneman
Image
People who are cognitively busy are also more likely to make selfish choices, use sexist language, and make superficial judgments in social situations.
Daniel Kahneman
Image
Employers who violate rules of fairness are punished by reduced productivity, and merchants who follow unfair pricing policies can expect to lose sales.
Daniel Kahneman
Image
It is only a slight exaggeration to say that happiness is the experience of spending time with people you love and who love you.
Daniel Kahneman
Image
Experts don't know exactly where the boundaries of their expertise are.
Daniel Kahneman
Image
If people can construct a simple and coherent story, they will feel confident regardless of how well grounded it is in reality.
Daniel Kahneman