When people think of the outcomes of their decisions, they think much more short term than that. They think in terms of… — Daniel Kahneman Copy Share Image
If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst… — Daniel Kahneman Copy Share Image
People just hate the idea of losing. Any loss, even a small one, is just so terrible to contemplate that they compensate… — Daniel Kahneman Copy Share Image
A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise. — Daniel Kahneman Copy Share Image
Negotiations over a shrinking pie are especially difficult because they require an allocation of losses. People tend to be much more easygoing… — 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
“Loss aversion refers to the relative strength of two motives: we are driven more strongly to avoid losses than to achieve gains.… — 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
