Daniel Kahneman
Daniel Kahneman
Daniel Kahnemanis an Israeli-American psychologist notable for his work on the psychology of judgment and decision-making, as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences. His empirical findings challenge the assumption of human rationality prevailing in modern economic theory...
NationalityIsraeli
ProfessionPsychologist
Date of Birth5 March 1934
CountryIsrael
Daniel Kahneman quotes about
attention adaptation process
Adaptation seems to be, to a substantial extent, a process of reallocating your attention.
thinking people watches
Economists think about what people ought to do. Psychologists watch what they actually do.
people nonsense more-money
It's nonsense to say money doesn't buy happiness, but people exaggerate the extent to which more money can buy more happiness.
mistake book people
The premise of this book is that it is easier to recognize other people's mistakes than your own.
powerful people feelings
Being wealthy is often a powerful predictor that people spend less time doing pleasurable things and more time doing compulsory things and feeling stressed.
loss thinking people
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.
stars perfect soldier
We were required to predict a soldier's performance in officer training and in combat, but we did so by evaluating his behavior over one hour in an artificial situation. This was a perfect instance of a general rule that I call WYSIATI, "What you see is all there is." We had made up a story from the little we knew but had no way to allow for what we did not know about the individual's future, which was almost everything that would actually matter. When you know as little as we did, you should not make extreme predictions like "He will be a star."
difficult-questions people answers
People who face a difficult question often answer an easier one instead, without realizing it.
skills culture aberration
The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry.
stories may individual
An individual who expresses high confidence probably has a good story, which may or may not be true.
ideas slow-down ifs
If there is time to reflect, slowing down is likely to be a good idea.
fairness unfair employers
Employers who violate rules of fairness are punished by reduced productivity, and merchants who follow unfair pricing policies can expect to lose sales.
clever ideas trying
I don't try to be clever at all. The idea that I could see what no one else can is an illusion.
successful knowing luck
Knowing the importance of luck, you should be particularly suspicious when highly consistent patterns emerge from the comparison of successful and less successful firms. In the presence of randomness, regular patterns can only be mirages.