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Thinking, Fast and Slow
Daniel Kahnemanattention is withdrawn from a new situation as it becomes more familiar. The main exceptions are chronic pain, constant exposure to loud noise, and severe depression. Pain and noise are biologically set to be signals that attract attention, and depression involves a self-reinforcing cycle of miserable thoughts. There is therefore no adaptation to these conditions.Thinking, Fast and Slow - Daniel Kahneman

the Californians enjoyed their climate and the Midwesterners despised theirs. But climate was not an important determinant of well-being. Indeed, there was no difference whatsoever between the life satisfaction of students in California and in the Midwest.Thinking, Fast and Slow - Daniel Kahneman

focusing illusion, which can be described in a single sentence: Nothing in life is as important as you think it is when you are thinking about it.Thinking, Fast and Slow - Daniel Kahneman

The satiation level beyond which experienced well-being no longer increases was a household income of about $75,000 in high-cost areasThinking, Fast and Slow - Daniel Kahneman

More education is associated with higher evaluation of one?s life, but not with greater experienced well-being. Indeed, at least in the United States, the more educated tend to report higher stress.Thinking, Fast and Slow - Daniel Kahneman

her ?total happiness? was the happiness of a typical period in her lifetime, not the sum (or integral) of happiness over the duration of her life.Thinking, Fast and Slow - Daniel Kahneman

We should not be surprised: losses evokes stronger negative feelings than costs.Thinking, Fast and Slow - Daniel Kahneman

people expect to have stronger emotional reactions (including regret) to an outcome that is produced by action than to the same outcome when it is produced by inaction.Thinking, Fast and Slow - Daniel Kahneman

As might be expected, finance research has documented a massive preference for selling winners rather than losers?a bias that has been given an opaque label: the disposition effect.Thinking, Fast and Slow - Daniel Kahneman

The poorer man will happily pay a premium to transfer the risk to the richer one, which is what insurance is about.Thinking, Fast and Slow - Daniel Kahneman

function is logarithmic?which simply means that an increase of stimulus intensity by a given factor (say, times 1.5 or times 10) always yields the same increment on the psychological scale. If raising the energy of the sound from 10 to 100 units of physical energy increases psychological intensity by 4 units, then a further increase of stimulus intensity from 100 to 1,000 will also increase psychological intensityThinking, Fast and Slow - Daniel Kahneman

main virtue of the premortem is that it legitimizes doubts.Thinking, Fast and Slow - Daniel Kahneman

probably contributes to an explanation of why people litigate, why they start wars, and why they open small businesses.Thinking, Fast and Slow - Daniel Kahneman

a ?hubris hypothesis?: the executives of the acquiring firm are simply less competent than they think they are.Thinking, Fast and Slow - Daniel Kahneman

Whether professionals have a chance to develop intuitive expertise depends essentially on the quality and speed of feedback, as well as on sufficient opportunity to practice.Thinking, Fast and Slow - Daniel Kahneman

Trading Is Hazardous to Your Wealth,? they showed that, on average, the most active traders had the poorest results, while the investors who traded the least earned the highest returns.Thinking, Fast and Slow - Daniel Kahneman

Confidence is a feeling, which reflects the coherence of the information and the cognitive ease of processing it.Thinking, Fast and Slow - Daniel Kahneman

In a memorable example, Dawes showed that marital stability is well predicted by a formula: frequency of lovemaking minus frequency of quarrelsThinking, Fast and Slow - Daniel Kahneman

It is that the language implies that the world is more knowable than it is. It helps perpetuate a pernicious illusion.Thinking, Fast and Slow - Daniel Kahneman

Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance.Thinking, Fast and Slow - Daniel Kahneman

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