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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
More quotes by Daniel Kahneman
Our memory tells us stories, that is, what we get to keep from our experiences is a story.
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If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable.
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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.
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The effort invested in 'getting it right' should be commensurate with the importance of the decision.
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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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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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People have little idea, by and large, of the investment world. They are convinced they have an advantage.
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An individual who expresses high confidence probably has a good story, which may or may not be true.
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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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That's one of the real dangers of leader selection in many organizations: leaders are selected for overconfidence.
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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.
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If individuals are rational, there is no need to protect them against their own choices.
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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.
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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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Establish a closing ritual. Know when to stop working. Try to end each work day the same way, too. Straighten up your desk. Back up your computer. Make a list of what you need to do tomorrow.
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We have associations to things. We have, you know, we have associations to tables and to - and to dogs and to cats and to Harvard professors, and that's the way the mind works. It's an association machine.
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It's nonsense to say money doesn't buy happiness, but people exaggerate the extent to which more money can buy more happiness.
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We're generally overconfident in our opinions and our impressions and judgments.
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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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People like leaders who look like they are dominant, optimistic, friendly to their friends, and quick on the trigger when it comes to enemies. They like boldness and despise the appearance of timidity and protracted doubt.
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