Israeli - Psychologist | March 5, 1934 -
An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.
Daniel Kahneman
SuccessFailureMindChanceSaid
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.
QualityActionProblemsStrong
Many ideas happen to us. We have intuition, we have feeling, we have emotion, all of that happens, we don't decide to do it. We don't control it.
IdeasControlFeelingEmotionDecide
Slow thinking has the feeling of something you do. It's deliberate.
ThinkingSlowYouFeelingSomething
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.
DecisionPainPeopleThinkLose
In a rising market, enough of your bad ideas will pay off so that you'll never learn that you should have fewer ideas.
IdeasLearnEnoughYouBadNever
True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
GoodExperienceMistakesFeedback
Optimistic people play a disproportionate role in shaping our lives. Their decisions make a difference; they are inventors, entrepreneurs, political and military leaders - not average people. They got to where they are by seeking challenges and taking risks.
RisksPeopleChallengesPolitical
It's nonsense to say money doesn't buy happiness, but people exaggerate the extent to which more money can buy more happiness.
HappinessMoneyPeopleSayNonsense
If people are failing, they look inept. If people are succeeding, they look strong and good and competent. That's the 'halo effect.' Your first impression of a thing sets up your subsequent beliefs. If the company looks inept to you, you may assume everything else they do is inept.
GoodPeopleStrongYouLookLooks
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.
PeopleThinkDecisionsFeelKnow
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.
FutureDecisionHappyPeopleKnow
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