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Experts don't know exactly where the boundaries of their expertise are.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Exactly
Expertise
Experts
Boundaries

More quotes by Daniel Kahneman

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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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Managers think of themselves as captains of a ship on a stormy sea. Risk for them is danger, but they are fighting it, very controlled.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
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The confidence people have in their beliefs is not a measure of the quality of evidence but of the coherence of the story the mind has managed to construct.
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Except for some effects that I attribute mostly to age, my intuitive thinking is just as prone to overconfidence, extreme predictions, and the planning fallacy as it was before I made a study of these issues.
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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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Employers who violate rules of fairness are punished by reduced productivity, and merchants who follow unfair pricing policies can expect to lose sales.
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Poverty is clearly one source of emotional suffering, but there are others, like loneliness. A policy to reduce the loneliness of the elderly would certainly reduce suffering.
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Survival prospects are poor for an animal that is not suspicious of novelty.
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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.
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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.
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I have always emphasized the willingness to discard.
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Often, the most enjoyable part of an activity is the anticipation.
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Negotiations over a shrinking pie are especially difficult because they require an allocation of losses. People tend to be much more easygoing when they bargain over an expanding pie.
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My interest in well-being evolved from my interest in decision making - from raising the question of whether people know what they will want in the future and whether the things that people want for themselves will make them happy.
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All of us would be better investors if we just made fewer decisions.
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We associate leadership with decisiveness. That perception of leadership pushes people to make decisions fairly quickly, lest they be seen as dithering and indecisive.
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Alternative descriptions of the same reality evoke different emotions and different associations.
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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.
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