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An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.
Daniel Kahneman
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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Chance
Sound
Success
Attractive
Mind
Sounds
Investment
Recognize
Easily
Failure
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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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The dominance of conclusions over arguments is most pronounced where emotions are involved.
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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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The concept of happiness has to be reorganised.
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Most things that couples disagree upon aren't worth more than a day's combat.
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A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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Alternative descriptions of the same reality evoke different emotions and different associations.
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I'm not a great believer in self-help.
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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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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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