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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.
Daniel Kahneman -
He weights losses about twice as much as gains, which is normal.
Daniel Kahneman
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When you look at the books about well-being, you see one word - it's happiness. People do not distinguish.
Daniel Kahneman -
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.
Daniel Kahneman -
The experiencing self lives its life continuously. It has moments of experience, one after the other.
Daniel Kahneman -
If you think in terms of major losses, because losses loom much larger than gains - that's a very well-established finding - you tend to be very risk-averse. When you think in terms of wealth, you tend to be much less risk-averse.
Daniel Kahneman -
There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.
Daniel Kahneman -
People who know math understand what other mortals understand, but other mortals do not understand them. This asymmetry gives them a presumption of superior ability.
Daniel Kahneman
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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.
Daniel Kahneman -
The idea that you can ask one question and it makes the point - well, that wasn't how psychology was done at the time.
Daniel Kahneman -
There is no evidence that risk takers in the economic domain have an unusual appetite for gambles on high stakes; they are merely less aware of risks than more timid people are.
Daniel Kahneman -
I enjoy being active, but I look forward to the day when I can retire to the Internet.
Daniel Kahneman -
The brains of humans contain a mechanism that is designed to give priority to bad news.
Daniel Kahneman -
It took Francis Galton several years to figure out that correlation and regression are not two concepts – they are different perspectives on the same concept. The general rule is straightforward but has surprising consequences: whenever the correlation between two scores is imperfect, there will be regression to the mean.
Daniel Kahneman
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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.
Daniel Kahneman -
There is research on the effects of 9/11, and you know, compared to the enormity of it, it didn't have a huge effect on people's mood. They were going about their business, mostly.
Daniel Kahneman -
I have always emphasized the willingness to discard.
Daniel Kahneman -
Through some combination of culture and biology, our minds are intuitively receptive to religion.
Daniel Kahneman -
He's taking an inside view. He should forget about his own case and look for what happened in other cases.
Daniel Kahneman -
It's very easy for trusted companies to mislead naive customers, and life insurance companies are trusted.
Daniel Kahneman
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Alternative descriptions of the same reality evoke different emotions and different associations.
Daniel Kahneman -
We think, each of us, that we're much more rational than we are. And we think that we make our decisions because we have good reasons to make them. Even when it's the other way around. We believe in the reasons, because we've already made the decision.
Daniel Kahneman -
People just hate the idea of losing. Any loss, even a small one, is just so terrible to contemplate that they compensate by buying insurance, including totally absurd policies like air travel.
Daniel Kahneman -
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.
Daniel Kahneman