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… — Daniel Kahneman Copy Share Image
The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics. — Daniel Kahneman Copy Share Image
Economists think about what people ought to do. Psychologists watch what they actually do. — Daniel Kahneman Copy Share Image
“People who are poor think like traders, but the dynamics are quite different. Unlike traders, the poor are not indifferent to the differences between… — Daniel Kahneman Copy Share Image
“Mood evidently affects the operation of System 1: when we are uncomfortable and unhappy, we lose touch with our intuition.” — Daniel Kahneman Copy Share Image
The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even… — Daniel Kahneman Copy Share Image
“So this is my aim for watercooler conversations: improve the ability to identify and understand errors of judgment and choice, in others and eventually… — Daniel Kahneman Copy Share Image
“For example, I recently came to doubt my long-held impression that adultery is more common among politicians than among physicians or lawyers.” — Daniel Kahneman Copy Share Image
Survival prospects are poor for an animal that is not suspicious of novelty. — Daniel Kahneman Copy Share Image
“the idea of money primes individualism: a reluctance to be involved with others, to depend on others, or to accept demands from others.” — Daniel Kahneman Copy Share Image
Most of the moments of our life - and I calculated, you know, the psychological present is said to be about three seconds long;… — Daniel Kahneman Copy Share Image
“knowing little makes it easier to fit everything you know into a coherent pattern.” — Daniel Kahneman Copy Share Image
Experts don't know exactly where the boundaries of their expertise are. — Daniel Kahneman Copy Share Image
