The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they… — Daniel Kahneman Copy Share Image
“Finally, the illusions of validity and skill are supported by a powerful professional culture. We know that people can maintain an unshakable… — Daniel Kahneman Copy Share Image
Organizations may be better able to tame optimism than individuals are. — Daniel Kahneman Copy Share Image
Individual investors predictably flock to stocks in companies that are in the news. — Daniel Kahneman Copy Share Image
We were required to predict a soldier's performance in officer training and in combat, but we did so by evaluating his behavior… — Daniel Kahneman Copy Share Image
There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities. — Daniel Kahneman Copy Share Image
When everybody in a group is susceptible to similar biases, groups are inferior to individuals, because groups tend to be more extreme… — Daniel Kahneman Copy Share Image
If individuals are rational, there is no need to protect them against their own choices. — Daniel Kahneman Copy Share Image
Lucky risk takers use hindsight to reinforce their feeling that their gut is very wise. Hindsight also reinforces others' trust in that… — Daniel Kahneman Copy Share Image
The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry. — Daniel Kahneman Copy Share Image
An individual who expresses high confidence probably has a good story, which may or may not be true. — 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
