Daniel Kahneman Quotes
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We're blind to our blindness. We have very little idea of how little we know. We're not designed to know how little we know.
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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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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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Mental effort, I would argue, is relatively rare. Most of the time we coast.
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We're generally overconfident in our opinions and our impressions and judgments.
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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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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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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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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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The average investor's return is significantly lower than market indices due primarily to market timing.
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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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There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.
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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.
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In essence, the optimistic style involves taking credit for successes but little blame for failures.
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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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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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We're beautiful devices. The devices work well; we're all experts in what we do. But when the mechanism fails, those failures can tell you a lot about how the mind works.
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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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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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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.
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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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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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If there is time to reflect, slowing down is likely to be a good idea.