Kahneman Quote by Michael Lewis
““The smaller the sample size, the more likely that it is unrepresentative of the wider population..."people can be taught the correct rule, perhaps even with little difficulty. The point remains that people do not follow the correct rule, when left to their own devices.””
About This Quote
Small samples often mislead, and even when people learn the right rule, they may ignore it when unsupervised.
In simple terms: Small groups can be unrepresentative; people may forget rules without oversight.
Key Takeaway
Ensure ongoing guidance after teaching.
Themes
statistics
human behavior
learning
Mood
cautious
analytical
Type
observational
critical
When to use this quote
- market research
- policy making
- education
- personal habits
Key Concepts
sample bias
rule adherence
Questions to Reflect On
- What systems can keep correct habits in place?
- How do you balance autonomy with guidance?
A Different Perspective
People may resist correct behavior despite understanding it.
![“Crucial decisions are made, today as thousands of years ago, in terms of the intuitive guesses and preferences of a few men in positions of authority...[it is] quite likely that the fate of entire societies may be sealed by a series of avoidable mistakes committed by their leaders.” quote by Michael Lewis](https://sms4smile.com/quotes/img-quotes/a59/michael-lewis-705_decision-making_crucial-decisions-are-made-today-as-thou_16888.jpg)
![“Stories people told themselves were biased by the availability of the material used to construct them...what people remember about the past, [Kahneman and Tversky] suggested, is likely to warp their judgement of the future. "We often decide that an outcome is extremely unlikely or impossible…” quote by Michael Lewis](https://sms4smile.com/quotes/img-quotes/fb5/michael-lewis-705_bias_stories-people-told-themselves-were-bias_2757027.jpg)