Quote

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

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
Decision
Term
Losses
Much
Outcomes
Think
Gains
Thinking
Decisions
People
Terms
Short
Loss

More quotes by Daniel Kahneman

Image
I'm not a great believer in self-help.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
People should be conscious of the large contribution made by anything that gets people together easily in the reduction of loneliness and emotional well-being.
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
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
This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.
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
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
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.
Daniel Kahneman
Image
When people believe a conclusion is true, they are also very likely to believe arguments that appear to support it, even when these arguments are unsound.
Daniel Kahneman
Image
When you look at the books about well-being, you see one word - it's happiness. People do not distinguish.
Daniel Kahneman
Image
People are really happier with friends than they are with their families or their spouse or their child.
Daniel Kahneman
Image
Below an income of ... $60,000 a year, people are unhappy, and they get progressively unhappier the poorer they get. Above that, we get an absolutely flat line. ... Money does not buy you experiential happiness, but lack of money certainly buys you misery.
Daniel Kahneman
Image
Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don't know the odds. It's a big difference.
Daniel Kahneman
Image
We are very influenced by completely automatic things that we have no control over, and we don't know we're doing it.
Daniel Kahneman
Image
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.
Daniel Kahneman
Image
Hindsight bias makes surprises vanish.
Daniel Kahneman
Image
In a rising market, enough of your bad ideas will pay off so that you'll never learn that you should have fewer ideas.
Daniel Kahneman
Image
The premise of this book is that it is easier to recognize other people's mistakes than your own.
Daniel Kahneman
Image
It was always assumed I would be a professor. I grew up thinking it.
Daniel Kahneman