Mental effort, I would argue, is relatively rare. Most of the time we coast. Daniel Kahneman arguecoasteffort Change image and share on social
One thing we have lost, that we had in the past, is a sense of progress, that things are getting better. There is a sense of volatility, but not of progress. Daniel Kahneman losepastprogress Change image and share on social
If you think in terms of major losses, because losses loom much larger than gains - that's a very well-established finding - you tend to be very risk-averse. When you think in terms of wealth, you tend to be much less risk-averse. Daniel Kahneman averseestablishfind share on social
There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave. Daniel Kahneman analysisassumptionbehave share on social
We think of our future as anticipated memories. Daniel Kahneman anticipatefuturememory Change image and share on social
Through some combination of culture and biology, our minds are intuitively receptive to religion. Daniel Kahneman biologycombinationculture Change image and share on social
All of us roughly know what memory is. I mean, memory is sort of the storage of the past. It's the storage of our personal experiences. It's a very big deal. Daniel Kahneman bigdealexperience Change image and share on social
Employers who violate rules of fairness are punished by reduced productivity, and merchants who follow unfair pricing policies can expect to lose sales. Daniel Kahneman employerexpectfairness Change image and share on social
Economists think about what people ought to do. Psychologists watch what they actually do. Daniel Kahneman economistpeoplepsychologist Change image and share on social
We're beautiful devices. The devices work well; we're all experts in what we do. But when the mechanism fails, those failures can tell you a lot about how the mind works. Daniel Kahneman beautifuldeviceexpert Change image and share on social