And in what ways do we make decisions poorly? Gregory Cotton 4views. Scientists love to divide human thinking into two parts: right brain vs.
Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance. System (OS1) thinking is intuitive thinking – It’s fast , emotional, involuntary, effortless, and of subconscious origin. DANIEL KAHNEMAN is Eugene Higgins Professor of Psychology Emeritus at Princeton University and a professor of public affairs at the Woodrow Wilson School of Public and International Affairs. This is one of the greatest and most engaging collections of insights into the human mind I have read.
To anyone with the slightest interest in the workings of his own min it is so. He has, in every way made sure that there could possibly never be a better book written on decision making by humans. Slow thinking is the system that we normally think of as thought in the strictest sense.
You can avoid decision-making mistakes by understanding the differences between these two systems of thought. Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking. THINKING, FAST AND SLOW. As such, it is also a guide to identifying those areas and times when you are likely to make poor decisions. It has very extensive notes, along with his assessment, of the book, and its usefulness to him.
In memory of Amos Tversky 2. Contents Introduction Part I. Norms, Surprises, and Causes 7. A Machine for Jumping to Conclusions 8. It summarizes his lifetime of work on how the mind works, covering many topics familiar to those who follow behavioral economics and finance: prospect theory, overconfidence, loss aversion, anchoring, separate mental accounting, the representativeness bias and the availability bias. The Associative Machine 5. You enjoy thinking about how people think. It is impossible to adequately summarise all the insights that this book offers, but here are a few selections. We have two kinds of modes or ‘systems’ of thinking : a fast mode and a slow mode.
It’s so chock full of fantastic ideas, insights, and information that I’m afraid even trying to comment on it will make me look like a fool. Read by the actor Patrick Egan. He begins by describing the evidence that there are two modes of thought that we each employ. Kahneman explains the dichotomy between two.
His field is “behavioral economics. This book is the capstone of a career that has deeply penetrated the processes of brain functioning and challenged classical economic assumptions. Together they shape our impressions of the world around us and help us make choices. Get this from a library!
Thinking, fast and slow.
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