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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

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Term
Losses
Much
Outcomes
Think
Gains
Thinking
Decisions
People
Terms
Short
Loss
Decision

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Some memories come with a very compelling sense of truth about them. And that happens to be the case even with memories that are not true.
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We're generally overconfident in our opinions and our impressions and judgments.
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It was always assumed I would be a professor. I grew up thinking it.
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Friends are sometimes a big help when they share your feelings. In the context of decisions, the friends who will serve you best are those who understand your feelings but are not overly impressed by them.
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Through some combination of culture and biology, our minds are intuitively receptive to religion.
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Most of the moments of our life - and I calculated, you know, the psychological present is said to be about three seconds long that means that, you know, in a life there are about 600 million of them in a month, there are about 600,000 - most of them don't leave a trace.
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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.
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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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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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Slow thinking has the feeling of something you do. It's deliberate.
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We can be blind to the obvious, and we are also blind to our blindness.
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Individual investors predictably flock to stocks in companies that are in the news.
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If you're going to be unreligious, it's likely going to be due to reflecting on it and finding some things that are hard to believe.
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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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Experts don't know exactly where the boundaries of their expertise are.
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Question: So investors shouldn't delude themselves about beating the market? Answer: They're just not going to do it. It's just not going to happen.
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Policy makers, like most people, normally feel that they already know all the psychology and all the sociology they are likely to need for their decisions. I don't think they are right, but that's the way it is.
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You're surprised by something, but you don't really know what surprised you you recognize someone, but you don't really know what cues cause you to recognize that person.
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Experienced happiness refers to your feelings, to how happy you are as you live your life. In contrast, the satisfaction of the remembering self refers to your feelings when you think about your life.
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When action is needed, optimism, even of the mildly delusional variety, may be a good thing.
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