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Up until the 1950s, the general opinion was that people are rational beings who make rational decisions. They have laws, rules, customs, and institutions in place to help them decide what’s good and bad.
It wasn’t till Kahneman and Amos first introduced the term “cognitive bias ” that people started paying attention to how personal heuristics can affect the decision-making process. People are born into a life with limited resources, time, information, and scarce resources.
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MORE IDEAS ON THIS
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The Undoing Project talks about the life and extensive research in the psychology of Kahneman and Tversky by bringing forth some of the most influential and groundbreaking discoveries they unveiled about ...
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Many people have heard of behavioral psychology, but not many know where it came from or how it all began. The Undoing Project gives us a detailed history lesson on how these two men met at university in Isr...
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Amos and Kahneman were the writers of the masterpiece that laid the foundation of modern psychology. Their work influenced areas like economics, finance, sports, behavioral psychology, and many more.
What got them to the highest highs wasn’t just a shared purpose, but a common driv...
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In the book, Daniel Kahneman provides many examples of how heuristics can lead to irrational behavior or bias, which are things we all experience from time to time but may not realize at first glance.
That’s because most of our decisions are based on previous experiences, our views of the ...
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The Undoing Project is a book that details the lives of two highly influential psychologists, namely Daniel Kahneman and Amos Tversky. The two were working together in Jerusalem when they di...
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Here are three of the most important lessons from the book:
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Given these circumstances, their decisions must be fast and assure survival, which is why we’re wired to react in a way that makes sense to our brains. In the decision-making process , such variables can significantly alter the...
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The 30-year-old person who is passionate about psychology and human behavior, the 27-year-old consumer behavior specialist who wants to deepen their knowledge, or the 40-year-old lecturer who enjoys a good read outside their usual curricula.
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Kahneman and Amos worked together to discover how heuristics and biases affect the decision-making process in the human mind. What they came across changed the world for many reasons.
Industries like advertising...
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"When you are a pessimist and the bad thing happens, you live it twice, Amos"
-Michael Lewis
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The Undoing Project - Book Summary
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Other curated ideas on this topic:
The economic theory of expected utility maximization says that people will act out of rational self-interest. But psychologist Daniel Kahneman showed that it is incorrect.
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