Daniel Kahneman Quotes
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Nobody would say, 'I'm voting for this guy because he's got the stronger chin,' but that, in fact, is partly what happens.
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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.
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He weights losses about twice as much as gains, which is normal.
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It's very difficult to distinguish between what a person believes and what they say they believe.
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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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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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Alternative descriptions of the same reality evoke different emotions and different associations.
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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.
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The idea that you can ask one question and it makes the point - well, that wasn't how psychology was done at the time.
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Suppose you like someone very much. Then, by a familiar halo effect, you will also be prone to believe many good things about that person - you will be biased in their favor. Most of us like ourselves very much, and that suffices to explain self-assessments that are biased in a particular direction.
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All of us would be better investors if we just made fewer decisions.
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Through some combination of culture and biology, our minds are intuitively receptive to religion.
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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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We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.
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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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We have associations to things. We have, you know, we have associations to tables and to - and to dogs and to cats and to Harvard professors, and that's the way the mind works. It's an association machine.
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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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The average investor's return is significantly lower than market indices due primarily to market timing.
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I think one of the major results of the psychology of decision making is that people's attitudes and feelings about losses and gains are really not symmetric. So we really feel more pain when we lose $10,000 than we feel pleasure when we get $10,000.
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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.
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Friends are sometimes a big help when they share your feelings. In the context of decisions, the friends who will serve you best are those who understand your feelings but are not overly impressed by them.
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Unless there is an obvious reason to do otherwise, most of use passively accept decision problems as they are framed and therefore rarely have an opportunity to discover the extent to which our preferences are frame-bound rather than reality-bound.
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We're generally overconfident in our opinions and our impressions and judgments.
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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.