Amos Tversky

"The sunk cost fallacy is one of the most important biases in decision making."

"Rational decision making is not how humans actually make decisions."

"The way a problem is framed can reverse preferences."

"Loss aversion is more powerful than gain seeking."

"Reference points matter enormously in how we perceive outcomes."

"We weight recent experiences too heavily in our judgments."

"Vivid examples shape our beliefs more than statistical data."

"The representativeness heuristic leads to neglect of prior probabilities."

"Overconfidence is greater for difficult questions."

"The correlation between confidence and accuracy is weaker than we think."

"People are better at detecting invalid arguments they disagree with than ones they agree with."

"Our judgments are heavily influenced by the context in which they are made."

"Small samples seem to be much more variable than large samples."

"We are sensitive to changes and less sensitive to absolute levels."

"Diminishing sensitivity is a hallmark of human value systems."

"The impact of a factor on overall judgment depends on its prominence in the analysis."

"People predict the future based on the past, even when the future will be different."

"Imagination is constrained by what we already know."

"The contrast effect influences how we perceive outcomes."

"Hindsight bias makes past events seem more predictable than they actually were."

"We overestimate the predictability of past events."

"Decision makers are prone to be influenced by irrelevant information."

"The order in which information is presented affects judgments."

"Initial information has disproportionate influence on final judgments."

"We are more sensitive to changes than to absolute differences."

"Value is relative, not absolute."

"People exhibit different risk preferences for gains versus losses."

"Certainty effects lead people to overweight unlikely events."

"The isolation effect influences how people evaluate decisions."

"Framing effects are remarkably robust across different contexts."