Daniel Kahneman Quotes
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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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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 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.
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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.
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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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People are very complex. And for a psychologist, you get fascinated by the complexity of human beings, and that is what I have lived with, you know, in my career all of my life, is the complexity of human beings.
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Happiness is determined by factors like your health, your family relationships and friendships, and above all by feeling that you are in control of how you spend your time.
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Mental effort, I would argue, is relatively rare. Most of the time we coast.
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It was always assumed I would be a professor. I grew up thinking it.
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We think of our future as anticipated memories.
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There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.
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The average investor's return is significantly lower than market indices due primarily to market timing.
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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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We are very influenced by completely automatic things that we have no control over, and we don't know we're doing it.
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Clearly, the decision-making that we rely on in society is fallible. It's highly fallible, and we should know that.
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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.
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In essence, the optimistic style involves taking credit for successes but little blame for failures.
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By their very nature, heuristic shortcuts will produce biases, and that is true for both humans and artificial intelligence, but the heuristics of AI are not necessarily the human ones.
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Yes, there is a burden of financial insecurity. I don't think you find it in mood. Income is correlated with life satisfaction, so maybe you do find it in life satisfaction. You don't find it in mood, and I think it is very important.
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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.
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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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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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If there is time to reflect, slowing down is likely to be a good idea.
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It's not a case of: 'Read this book and then you'll think differently. I've written this book, and I don't think differently.