Daniel Kahneman Quotes - Page 7

Quotes about:

• Doubts are suppressed by groups... But remember that the internal incentives that shape how the group perceives risks and rewards may be very different from the reality of the risks and rewards in the external marketplace. Those incentives can distort risk perception.

  Daniel Kahneman

  Reality, Risk, Perception

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

  Daniel Kahneman

  Weekend, Average, Hours

  Source: time.com

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• There are some conditions where you have to trust your intuition.

  Daniel Kahneman

  Intuition, Trust Your Intuition, Conditions

  "Kahneman and Klein on strategic decisions: When can you trust your gut?". Interview with Gary Klein, bobmorris.biz. September 25, 2016.

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• It is only a slight exaggeration to say that happiness is the experience of spending time with people you love and who love you.

  Daniel Kahneman

  Love You, People, Spending Time

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• One thing we have lost, that we had in the past, is a sense of progress, that things are getting better. There is a sense of volatility, but not of progress.

  Daniel Kahneman

  Past, Get Better, Progress

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• You are more likely to learn something by finding surprises in your own behavior than by hearing surprising facts about people in general.

  Daniel Kahneman

  People, Hearing, Facts

  Daniel Kahneman (2011). “Thinking, Fast and Slow”, p.199, Macmillan

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• Intuitive diagnosis is reliable when people have a lot of relevant feedback. But people are very often willing to make intuitive diagnoses even when they're very likely to be wrong.

  Daniel Kahneman

  People, Diagnosis, Feedback

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• Mood evidently affects the operation of System 1: when we are uncomfortable and unhappy, we lose touch with our intuition. These findings add to the growing evidence that good mood, intuition, creativity, gullibility, and increased reliance on System 1 form a cluster. At the other pole, sadness, vigilance, suspicion, an analytic approach, and increased effort also go together. A happy mood loosens the control of System 2 over performance: when in a good mood, people become more intuitive and more creative but also less vigilant and more prone to logical errors.

  Daniel Kahneman

  Sadness, Creativity, Errors

  Daniel Kahneman (2011). “Thinking, Fast and Slow”, p.69, Macmillan

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• 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."

  Daniel Kahneman

  Stars, Perfect, Soldier

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• 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.

  Daniel Kahneman

  Thinking, People, Decision

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• We associate leadership with decisiveness. That perception of leadership pushes people to make decisions fairly quickly, lest they be seen as dithering and indecisive.

  Daniel Kahneman

  Leadership, People, Decision

  "Strategic decisions: When can you trust your gut?". McKinsey Quarterly interview, www.mckinsey.com. March 2010.

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• Through some combination of culture and biology, our minds are intuitively receptive to religion.

  Daniel Kahneman

  Mind, Culture, Biology

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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.

  Daniel Kahneman

  Fairness, Unfair, Employers

  Daniel Kahneman (2011). “Thinking, Fast and Slow”, p.349, Macmillan

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• There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.

  Daniel Kahneman

  Opportunity, People, Analysis

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• The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.

  Daniel Kahneman

  Quality, Stories, Littles

  Daniel Kahneman (2011). “Thinking, Fast and Slow”, p.100, Macmillan

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• I don't try to be clever at all. The idea that I could see what no one else can is an illusion.

  Daniel Kahneman

  Clever, Ideas, Trying

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• You should expect little or nothing from Wall Street stock pickers who hope to be more accurate than the market in predicting the future of prices. And you should not expect much from pundits making long-term forecasts.

  Daniel Kahneman

  Wall, Long, Investing

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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.

  Daniel Kahneman

  People, Decision, Want

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• A large portion of the weekend effects is explained by differences in the amount of time spent with friends or family between weekends and weekdays.

  Daniel Kahneman

  Weekend, Differences, Weekdays

  Source: time.com

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• Political columnists and sports pundits are rewarded for being overconfident.

  Daniel Kahneman

  Sports, Political, Columnists

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

  Daniel Kahneman

  Self, Moments

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• An executive might have a very strong intuition that a given product has promise, without considering the probability that a rival is already ahead in developing the same product.

  Daniel Kahneman

  Strong, Promise, Intuition

  "Strategic decisions: When can you trust your gut?". Interview with Olivier Sibony and Dan Lovallo, www.mckinsey.com. March 2010.

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• 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.

  Daniel Kahneman

  Business, Fighting, Thinking

  "Daniel Kahneman: The Thought Leader Interview". Interview with Michael Schrage, www.strategy-business.com. 2003.

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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.

  Daniel Kahneman

  Dog, Cat, Mind

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• 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.

  Daniel Kahneman

  Loss, Thinking, People

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