Kahneman, Daniel

Psychologist-Philosopher Israeli-American Born 1934 (age 92)

Developed behavioral economics and decision theory.

380 quotes

"Emotions play a larger role in decision-making than traditional economics assumes."
"The representativeness heuristic leads us astray more often than we realize."
Wisdom
"Effort justification causes us to value things more highly because we worked for them."
Work
"The planning horizon people use is remarkably short."
Time
"Most of the time, we are blind to our blindness."
Knowledge
"What you see is all there is applies to how we form judgments."
Truth
"Intuition is not infallible, but it is not worthless either."
Wisdom
"The question of how to live a good life remains as relevant today as ever."
Life
"We think we understand the world, but we understand it less than we believe."
Philosophy
"Lazy thinking is the enemy of accuracy."
Education
"The illusion of validity makes us overconfident in predictions."
Success
"People are reluctant to change their minds even when confronted with contrary evidence."
Change
"The substitution of questions occurs constantly and unconsciously in our thinking."
Knowledge
"Confidence is determined by the quality and coherence of the story, not the accuracy of the information."
Truth
"We live in the present, but we evaluate our lives in terms of the past."
Time
"The contrast effect makes us judge things differently depending on what we compare them to."
"Sunk costs influence our decisions far more than they rationally should."
Money
"The inside view leads to overconfidence in our own judgments."
Wisdom
"Luck and skill are often confused in the outcomes of our endeavors."
Success
"The illusion of understanding makes us believe we know more than we actually do."
Knowledge
"Most people are reasonably happy most of the time."
Happiness
"The way we remember the past determines how we view ourselves."
Life
"Errors of prediction are both inevitable and systematic."
Science
"The most reliable way to make a poor decision is to rely on gut feeling alone."
Leadership
"We are not nearly as rational as we like to believe."
Philosophy
"The vividness of an example determines its impact on our thinking."
Creativity
"Anchors remain influential even when we know they are arbitrary."
Work
"The long-term outcomes of our decisions are highly uncertain."
Time
"We attribute our successes to skill and our failures to luck."
"The experience of time differs from the measurement of time."
Time