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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
Experts
Boundaries
Exactly
Expertise

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Laziness is built deep into our nature.
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Acquisition of skills requires a regular environment, an adequate opportunity to practice, and rapid and unequivocal feedback about the correctness of thoughts and actions.
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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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True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
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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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Odd as it may seem, I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.
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Intelligence is not only the ability to reason it is also the ability to find relevant material in memory and to deploy attention when needed.
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People talk of the new economy and of reinventing themselves in the workplace, and in that sense most of us are less secure.
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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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Groups tend to be more extreme than individuals.
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Adaptation seems to be, to a substantial extent, a process of reallocating your attention.
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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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It's very easy for trusted companies to mislead naive customers, and life insurance companies are trusted.
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After a crisis we tell ourselves we understand why it happened and maintain the illusion that the world is understandable. In fact, we should accept the world is incomprehensible much of the time.
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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.
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The planning fallacy is that you make a plan, which is usually a best-case scenario. Then you assume that the outcome will follow your plan, even when you should know better.
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I used to hold a unitary view, in which I proposed that only experienced happiness matters, and that life satisfaction is a fallible estimate of true happiness.
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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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We're generally overconfident in our opinions and our impressions and judgments.
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