Daniel Kahneman quotes: wise famous quotes, sayings and quotations by Daniel Kahneman

Daniel Kahneman Famous Quotes & Sayings

Discover top inspirational quotes from Daniel Kahneman on Wise Famous Quotes.

Perception of intention and emotion is irresistible; only people afflicted by autism do not experience it.

The worse the consequence, the greater the hindsight bias.

Add-1 with four digits caused a larger dilation than the task of holding seven digits for immediate recall. Add-3, which is much more difficult,

Most people are highly optimistic most of the time.

If you care about being thought credible and intelligent, do not use complex language where simpler language will do.

We are often confident even when we are wrong, and an objective observer is more likely to detect our errors than we are.

All of us would be better investors if we just made fewer decisions.

Banks are run by executives, and executives protect themselves, and that does not always mean that banks are going to behave rationally.

Odd as it may seem, I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.

For one thing, it helps us see the logical consistency of Human preferences for what it is - a hopeless mirage

the line between what clinicians can do well and what they cannot do at all well is not obvious, and certainly not obvious to them.

The average investor's return is significantly lower than market indices due primarily to market timing.

higher income is associated with a reduced ability to enjoy the small pleasures of life.

Nobody would say, 'I'm voting for this guy because he's got the stronger chin,' but that, in fact, is partly what happens.

Groups tend to be more extreme than individuals.

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.

They added a cheap gift to the expensive product, and made the whole deal less attractive. Less is more in this case.

Systematic errors are known as biases, and they recur predictably in particular circumstances.

Freedom has a cost, which is borne by individuals who make bad choices, and by a society that feels obligated to help them.

Organizations may be better able to tame optimism than individuals are.

automatic search for causes shapes our thinking,

The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.

If individuals are rational, there is no need to protect them against their own choices.

When people think of the outcomes of their decisions, they think much more short term than that. They think in terms of gains and losses.

Whenever we can replace human judgment by a formula, we should at least consider it.

Individual investors predictably flock to stocks in companies that are in the news.

You think with your body, not with your brain.

Nothing in life is as important as you think it is, while you are thinking about it

It doesn't take many observations to think you've spotted a trend, and it's probably not a trend at all.

A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.

An individual who expresses high confidence probably has a good story, which may or may not be true.

You inability to reconstruct past beliefs will inevitably cause you to underestimate the extent to which you were surprised by past events.

A compelling narrative fosters an illusion of inevitability.

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.

Jonathan Haidt said in another context, The emotional tail wags the rational dog.

How many animals of each kind did Moses take into the ark?

The Affect Heuristic The dominance of conclusions over arguments is most pronounced where emotions are involved.

We are prone to overestimate how much we understand about the world and to underestimate the role of chance in events.

An inability to be guided by a "healthy fear" of bad consequences is a disastrous flaw.

Poignancy (a close cousin of regret) is a counterfactual feeling, which

I have always emphasized the willingness to discard.

Overconfidence: As the WYSIATI rule implies, neither the quantity nor the quality of the evidence counts for much in subjective confidence.

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.

We are far too willing to reject the belief that much of what we see in life is random.

Some memories come with a very compelling sense of truth about them. And that happens to be the case even with memories that are not true.

The sunk-cost fallacy keeps people for too long in poor jobs, unhappy marriages, and unpromising research projects.

for most people, the cause of a mistake matters. The

Hindsight bias makes surprises vanish.

To think clearly about the future, we need to clean up the language that we use in labeling the beliefs we had in the past.

are less confident in a choice when they are asked to produce more arguments to support it

When action is needed, optimism, even of the mildly delusional variety, may be a good thing.

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

Adaptation seems to be, to a substantial extent, a process of reallocating your attention.

Slow thinking has the feeling of something you do. It's deliberate.

However, attention can be moved away from an unwanted focus, primarily by focusing intently on another target.

The illusion that we understand the past fosters overconfidence in our ability to predict the future.

While writing the article that reported these findings, Amos and I discovered that we enjoyed working together.

Conflict between an automatic reaction and an intention to control it is common in our lives.

The idea that the future is unpredictable is undermined every day by the ease with which the past is explained.

It's very easy for trusted companies to mislead naive customers, and life insurance companies are trusted.

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

Mind is a machine for jumping to conclusions

System 1 represents sets by averages, norms, and prototypes, not by sums. Each

prepared for the future as you could be. An odd feature of what happened is that your System 1 treated the mere conjunction of

People are really happier with friends than they are with their families or their spouse or their child.

We're generally overconfident in our opinions and our impressions and judgments.

Endlessly amused by people's minds.

Remember this rule: intuition cannot be trusted in the absence of stable regularities in the environment.

There's a lot of randomness in the decisions that people make.

Our predilection for causal thinking exposes us to serious mistakes in evaluating the randomness of truly random events.

My impression is that the elimination of memories greatly reduces the value of the experience.

And you should not expect much from pundits making long-term forecasts - although they may have valuable insights into the near future. The

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

Often, the most enjoyable part of an activity is the anticipation.

Survival prospects are poor for an animal that is not suspicious of novelty.

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.

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

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.

a stable relationship requires that good interactions outnumber bad interactions by at least 5 to 1.

The psychologist Mihaly Csikszentmihalyi (pronounced six-cent-mihaly) has done

Maintaining one's vigilance against biases is a chore - but the chance to avoid a costly mistake is sometimes worth the effort.

Belief in the Law of Small Numbers.

The experiencing self lives its life continuously. It has moments of experience, one after the other.

Money does not buy you happiness, but lack of money certainly buys you misery.

One study found that people who just thought about watching their favorite movie actually raised their endorphin levels by 27 percent.

If you're going to be unreligious, it's likely going to be due to reflecting on it and finding some things that are hard to believe.

We can't live in a state of perpetual doubt, so we make up the best story possible and we live as if the story were true.

One of the major biases in risky decision making is optimism. Optimism is a source of high-risk thinking.

A recurrent theme of this book is that luck plays a large role in every story of success;

So your emotional state really has a lot to do with what you're thinking about and what you're paying attention to.

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

The most effortful forms of slow thinking are those that require you to think fast.

Intuitive predictions need to be corrected because they are not regressive and therefore are biased.

To derive the most useful information from multiple sources of evidence, you should always try to make these sources independent of each other.

The mind is good with stories, but it does not appear to be well designed for the processing of time.

Put your ideas in verse if you can; they will be more likely to be taken as truth.

The premise of this book is that it is easier to recognize other people's mistakes than our own.

Question: So investors shouldn't delude themselves about beating the market? Answer: "They're just not going to do it. It's just not going to happen."

The test of learning psychology is whether your understanding of situations you encounter has changed, not whether you have learned a new fact.

A Random Walk Down Wall Street