Thinking, Fast and Slow - Deepstash

Our society is built on the premise that human beings are more or less rational. We trust that our leaders, judges, scientists, and other experts are making fair and unbiased decis...

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Thinking, Fast and Slow

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In fact, human thinking is riddled with biases, oversimplifications, and distortions. And these mistakes aren’t random, either. In Thinking, Fast and Slow

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You don’t have one mind. When it comes to thinking, Daniel Kahneman argues, you have two. While they go by many names, Kahneman prefers the terms Syste...

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System 1 thinks quickly and automatically, with little to no effort and no sense of voluntary control. System 1 lets you immediately recognize that one person is farther away than ...

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System 2 operates slowly, calculating and reasoning. It’s what we think of as our conscious, deliberate mind. System 2 is what lets you calculate just how far away that person is, ...

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This division of labor is highly efficient. For a mind that is constantly being bombarded with stimuli, it keeps effort to a minimum. System 1 can take care of a lot of bas...

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System 1 is prone to biases, cognitive illusions, and overconfidence. We often fail to recognize these errors because they happen so quickly, before our conscious mind has ...

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Research has shown that when taking on risky projects or investments, decision-makers often fall victim to what Kahneman calls the “planning fallacy.” This is our tendency to make optimisti...

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The planning fallacy is just one of dozens of mental distortions that Kahneman and his fellow researchers have identified, a devastating critique of the rational choice theory favo...

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You may think that your experiences (“I’m having fun!”) and your memories (“That was fun!”) are closely connected. But Daniel Kahneman points out ...

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Buying an expensive luxury item may give you a lot of actual joy in the moment. But with hindsight, the cost of the purchase may weigh on you, and you may decide it wasn’t worth it. So the ...

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The “experiencing self” is rooted in System 1, which favors short periods of intense pleasure and dreads sharp pains. The System 2 “remembering self” tells a story about that exper...

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First published by Kahneman and his longtime collaborator Amos Tversky in 1979, prospect theory is a model of decision-making behavior informed by Systems 1 and 2...

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“Reference dependence,” is what Kahneman calls our tendency to perceive the value of things and experiences relative to some status quo that we hold in mind

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So, our two-system mind is subject to all sorts of cognitive errors. What can we do about it? How can we more reliably make good decisions?

First, recognize when your automatic, Syste...

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Put structures in place around you that make decision-making more deliberative. For example, Kahneman recommends leaders adopt checklists, which help avoid oversights and encourage...

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Broadly speaking, there are three stages to making a decision:

  • Framing the problem
  • Collecting the relevant data
  • Reflecting on an...

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