"People exaggerate their confidence in their plans - something we call the planning fallacy... The existence of the plan tends to induce overconfidence."
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Quote collection
Daniel Kahneman quotes (page 8 of 11)
205 quotes — follow a thought to its full quote page.
"I don't try to be clever at all. The idea that I could see what no one else can is an illusion."
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"The extra daily social time of 1.7 hours in weekends raises average happiness by about 2%."
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"Negotiations over a shrinking pie are especially difficult because they require an allocation of losses. People tend to be much more easygoing when they bargain over an expanding pie."
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"You are more likely to learn something by finding surprises in your own behavior than by hearing surprising facts about people in general."
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"I used to hold a unitary view, in which I proposed that only experienced happiness matters, and that life satisfaction is a fallible estimate of true happiness."
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"Most things that couples disagree upon aren't worth more than a day's combat."
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"When people think of the outcomes of their decisions, they think much more short term than that. They think in terms of gains and losses."
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"Policy makers, like most people, normally feel that they already know all the psychology and all the sociology they are likely to need for their decisions. I don't think they are right, but that's the way it is."
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"Groups tend to be more extreme than individuals."
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"We know that the French are very different from the Americans in their satisfaction with life. They're much less satisfied. Americans are pretty high up there, while the French are quite low - the world champions in life satisfaction are actually the Danes."
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"You should expect little or nothing from Wall Street stock pickers who hope to be more accurate than the market in predicting the future of prices. And you should not expect much from pundits making long-term forecasts."
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"An individual who expresses high confidence probably has a good story, which may or may not be true."
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"We are very influenced by completely automatic things that we have no control over, and we don't know we're doing it."
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"In essence, the optimistic style involves taking credit for successes but little blame for failures."
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"You know, the standard state for people is 'mildly pleasant.' Negative emotions are quite rare, and extremely positive emotions are rare. But people are mildly pleased most of the time, they're mildly tired a lot of the time, and they wish they were somewhere else a substantial part of the time - but mostly they're mildly pleased."
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"The most effortful forms of slow thinking are those that require you to think fast."
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"The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry."
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"If individuals are rational, there is no need to protect them against their own choices."
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"Laziness is built deep into our nature."
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