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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

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Idea
Including
Compensate
Hate
Air
Contemplate
Ideas
Travel
Contemplating
Even
Losing
Insurance
Like
Loss
Policies
People
Terrible
Buying
Policy
Absurd
Small
Totally

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The concept of happiness has to be reorganised.
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Optimistic people play a disproportionate role in shaping our lives. Their decisions make a difference they are inventors, entrepreneurs, political and military leaders - not average people. They got to where they are by seeking challenges and taking risks.
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There is a huge wave of interest in happiness among researchers. There is a lot of happiness coaching. Everybody would like to make people happier.
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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 be blind to the obvious, and we are also blind to our blindness.
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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.
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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.
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The premise of this book is that it is easier to recognize other people's mistakes than your own.
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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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I have always emphasized the willingness to discard.
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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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