"Managers think of themselves as captains of a ship on a stormy sea. Risk for them is danger, but they are fighting it, very controlled."
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Quote collection
Daniel Kahneman quotes (page 7 of 11)
205 quotes — follow a thought to its full quote page.
"Slow thinking has the feeling of something you do. It's deliberate."
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"All of us would be better investors if we just made fewer decisions."
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"What happens with fear is that probability doesn't matter very much. That is, once I have raised the possibility that something terrible can happen to your child, even though the possibility is remote, you may find it very difficult to think of anything else. Emotion becomes dominant."
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"We are often confident even when we are wrong, and an objective observer is more likely to detect our errors than we are."
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"Most people are highly optimistic most of the time."
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"Acquisition of skills requires a regular environment, an adequate opportunity to practice, and rapid and unequivocal feedback about the correctness of thoughts and actions."
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"Doubts are suppressed by groups... But remember that the internal incentives that shape how the group perceives risks and rewards may be very different from the reality of the risks and rewards in the external marketplace. Those incentives can distort risk perception."
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"Through some combination of culture and biology, our minds are intuitively receptive to religion."
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"Political columnists and sports pundits are rewarded for being overconfident."
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"My interest in well-being evolved from my interest in decision making - from raising the question of whether people know what they will want in the future and whether the things that people want for themselves will make them happy."
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"Many people will admit that they made a mistake [putting money in dot-coms or telecoms at their peak] But that doesn’t mean that they’ve changed their mind about anything in particular. It doesn’t mean that they are now able to avoid that mistake."
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"Each additional day together is a gift. The end of the day means the end of hostilities, the recognition that the underlying shared values and commitment to the relationship trump the need for one last dig or self-righteous justification."
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"Hindsight bias makes surprises vanish."
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"People like leaders who look like they are dominant, optimistic, friendly to their friends, and quick on the trigger when it comes to enemies. They like boldness and despise the appearance of timidity and protracted doubt."
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"In strategic decisions, I'd be really concerned about overconfidence."
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"Experts don't know exactly where the boundaries of their expertise are."
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"Most successful pundits are selected for being opinionated, because it's interesting, and the penalties for incorrect predictions are negligible. You can make predictions, and a year later people won't remember them."
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"It's very easy for trusted companies to mislead naive customers, and life insurance companies are trusted."
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"It is the consistency of the information that matters for a good story, not its completeness. Indeed, you will often find that knowing little makes it easier to fit everything you know into a coherent pattern."
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