99+ Daniel Kahneman Quotes on Psychology, Focusing illusion and Fast and Slow - Quotes.pub

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Examples of the planning fallacy abound in the experiences of individuals, governments, and businesses. The list of horror stories is endless.

Charge the loss to your mental account of ‘general revenue’ – you will feel better!

People who experience flow describe it as “a state of effortless concentration so deep that they lose their sense of time, of themselves, of their problems,” and their descriptions of the joy of that state are so compelling that Csikszentmihalyi has called it an “optimal experience.

We were sufficiently similar to understand each other easily, and sufficiently different to surprise each other. We.

When the driver of a car is overtaking a truck on a narrow road, for example, adult passengers quite sensibly stop talking.

In terms of noise, psychiatry is an extreme case.

Organizations that take the word of overconfident experts can expect costly consequences.

There is at least one source of occasion noise that we have all noticed: mood.

Ultimately, a richer language is essential to the skill of constructive criticism.

A deeper understanding of judgments and choices also requires a richer vocabulary than is available in everyday language. The hope.

Of course, we and our animal cousins are quickly alerted to signs of opportunities to mate or to feed, and advertisers design billboards accordingly.

Bernoulli’s model lacks the idea of a reference point, expected utility theory does not represent the obvious fact that the outcome that is good for Anthony is bad for Betty. His model could explain Anthony’s risk aversion, but it cannot explain Betty’s risk-seeking preference for the gamble, a behavior that is often observed in entrepreneurs and in generals when all their options are bad.

It was always assumed I would be a professor. I grew up thinking it.

You can always find an evolutionary quotation for anything. But the question is whether it’s functional, which is not the same as being evolutionary.

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.

Although professionals are able to extract a considerable amount of wealth from amateurs, few stock pickers, if any, have the skill needed to beat the market consistently, year after year.

The pleasure we found in working together made us exceptionally patient; it is much easier to strive for perfection when you are never bored.

I decided to evaluate my portfolio only once a quarter. I am too loss averse to make sensible decisions in the face of daily price fluctuations.

The only test of rationality is not whether a person’s beliefs and preferences are reasonable, but whether they are internally consistent.

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.

The idea that large historical events are determined by luck is profoundly shocking, although it is demonstrably true.

The extra daily social time of 1.7 hours in weekends raises average happiness by about 2%.

I have always emphasized the willingness to discard.

Researchers who studied a thousand Dutch vacationers concluded that by far the greatest amount of happiness extracted from the vacation is derived from the anticipation period...

If people do not know what is going to make them better off or give them pleasure, then the idea that you can trust people to do what will give them pleasure becomes questionable.

There’s a tendency to look at investments in isolation. Investors focus on the risk of individual securities.

People have little idea, by and large, of the investment world. They are convinced they have an advantage.

And we cannot suppress the powerful intuition that what makes sense in hindsight today was predictable yesterday.

Fast thinking includes both variants of intuitive thought – the expert and the heuristic.

The classic experiment I describe next shows that people will not draw from base-rate information an inference that conflicts with other beliefs. It also supports the uncomfortable conclusion that teaching psychology is mostly a waste of time.

People assign much higher probability to the truth of their opinions than is warranted.

I enjoy being active, but I look forward to the day when I can retire to the Internet.

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.

We all have a need for the reassuring message that actions have appropriate consequences, and that success will reward wisdom and courage. Many business books are tailor-made to satisfy this need.

The idea that you can ask one question and it makes the point – well, that wasn’t how psychology was done at the time.

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.

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.

Stories of how businesses rise and fall strike a chord with readers by offering what the human mind needs: a simple message of triumph and failure that identifies clear causes and ignores the determinative power of luck and the inevitability of regression. These stories induce and maintain an illusion of understanding, imparting lessons of little enduring value to readers who are all too eager to believe them.

There is general agreement among researchers that nearly all stock pickers, whether they know it or not-and few of them do-are playing a game of chance.

The amount of evidence and its quality do not count for much, because poor evidence can make a very good story. For some of our most important beliefs we have no evidence at all, except that people we love and trust hold these beliefs. Considering how little we know, the confidence we have in our beliefs is preposterous – and it is also essential.

Political columnists and sports pundits are rewarded for being overconfident.

Zajonc argued that the effect of repetition on liking is a profoundly im- portant biological fact, and that it extends to all animals.

Being wealthy is often a powerful predictor that people spend less time doing pleasurable things and more time doing compulsory things and feeling stressed.

There is a huge wave of interest in happiness among researchers. There is a lot of happiness coaching. Everybody would like to make people happier.

When physicians are under time pressure, they are apparently more inclined to choose a quick-fix solution, despite its serious downsides.

I would not advise people to buy a car or house without making a list. You will probably improve your intuitions by making a list and then sleeping on it.

Experienced happiness refers to your feelings, to how happy you are as you live your life. In contrast, the satisfaction of the remembering self refers to your feelings when you think about your life.

People talk of the new economy and of reinventing themselves in the workplace, and in that sense most of us are less secure.

We all have our genre. Some people live a tragedy, others inhabit a never-ending religious drama, some approach life as if it were an action film, and not a few act as if in a comedy. But in the end, they are all just stories.

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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