Quote by DANIEL KAHNEMAN - Deepstash
Behavioral Economics, Explained

Learn more about books with this collection

How to make rational decisions

The role of biases in decision-making

The impact of social norms on decision-making

Behavioral Economics, Explained

Discover 52 similar ideas in

It takes just

7 mins to read

DANIEL KAHNEMAN

“Intelligence is not only the ability to reason; it is also the ability to find relevant material in memory and to deploy attention when needed.”

DANIEL KAHNEMAN

1.05K

4.13K reads

MORE IDEAS ON THIS

Understanding 2 Systems

Understanding 2 Systems

System 1 comprises the oldest parts of the brain. It operates automatically and involuntarily. This system is always functioning and is responsible for most of the day-to-day activities. It is also responsible for our reactions to danger, novelty, and intuition.

Sys...

1.03K

6.11K reads

Anchoring Effect

Anchoring Effect

Anchors are arbitrary values that we consider for an unknown quantity before encountering that quantity.

Anchors are known to influence many things, including the number of money people are willing to pay for products they have not seen. 

So before choosing th...

1K

4.83K reads

Bat and Ball Problem

Bat and Ball Problem

Try to solve this problem -

"A bat and a ball cost $1.10 in total. The bat costs $1.00 more than the ball. How much does the ball cost?"
-
If you say $1 for the ba...

993

6.55K reads

Confirmation Bias

Confirmation Bias

Within WYSIATI, people will be quick to seize on limited evidence that confirms their existing perspective. And they will ignore or fail to seek evidence that runs contrary to the coherent story they have already created in their mind.

Just ask yourself - "Why do we...

1K

2.9K reads

Status Quo Bias

System 1 defaults to choices that maintain the status quo because System 1 psychologically weighs losses twice as much as gains (loss aversion). System 1 is emotionally attached to objects it owns or invests in (the endowment effect) and overvalues the status quo...

1.05K

3.25K reads

Availability Bias

The bias of availability happens when we give too much weight to recent evidence or experience.

If we don’t check for the ‘Availability Bias’ (or what psychologists call the mere‐exposure effect) prior to an important decision, then our preference will be b...

1.08K

4.1K reads

Daniel Kahneman

“A reliable way to make people believe in falsehoods is frequent repetition because familiarity is not easily distinguished from truth. Authoritarian institutions and marketers have always known this fact.”

DANIEL KAHNEMAN

1.08K

4.42K reads

DANIEL KAHNEMAN

“Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance.”

DANIEL KAHNEMAN

1.01K

6.12K reads

Answer To Bat & Ball Problem

Answer To Bat & Ball Problem

In this type of case you just need to use your system 2 and spend some time with it. And you will get the answer as $1.05 for bat and 5 cent for the ball.

Now the ball is $1 more than the bat.

979

4.61K reads

Loss Aversion

Ask yourself “If I flipped a coin and could lose $100 on tails or win $150 on heads, would you take the bet?” Did you feel a slight hesitation to the gamble? Most people do, even though it’s a reasonable bet to take.

Losses loom larger than gains - relative to a ref...

1.01K

3.25K reads

Framing Effect

Imagine that there is an outbreak of a deadly disease that will kill 600 people and you must choose between the two options -  

  • Option 1: Guarantees that 200 people will live.
  • Option 2: Provides a one-third probability that all 600 people will ...

1.04K

3.75K reads

DANIEL KAHNEMAN

“The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.”

DANIEL KAHNEMAN

1K

3.94K reads

DANIEL KAHNEMAN

“Nothing in life is as important as you think it is, while you are thinking about it”

DANIEL KAHNEMAN

1.14K

10K reads

Tunnel Vision Bias

System 1 loves to use limited information to form quick judgments and then block out conflicting information. The author Daniel Kahneman calls it W‐Y‐S‐I‐A‐T‐I (What You See Is All There Is).

Kahneman explains that System 1 sees two or three pieces of information and t...

1.03K

3.15K reads

CURATED FROM

CURATED BY

ssuman24

A learner who loves to share wisdom on personal growth, happiness, and success on Deepstash. Topics include motivation, habits, goals, and mindset. Believes that everyone can achieve their dreams with the right attitude and action.

Related collections

More like this

"I’m a good communicator"

Communication encompasses not only speaking skills, but also your ability to lead, critique, and ask for help. Being adept in various communication methods also shows emotional intelligence.

Strategic humor tips

Strategic humor tips

  • Humor works better when it’s related to the information that you’re trying to remember. Try to use only relevant humor that pertains directly to the information that you want to emphasize.
  • Humor serves as a better attention and memory aid when it’s unexpected in some way.

Practicing certain lifestyle habits may help improve your overall intelligence, which includes two types:

  • Crystallized intelligence. This refers to your vocabulary, knowledge, and skills. Crystallized intelligence typically increases as you get older.

stash-superman-illustration

Explore the World’s

Best Ideas

200,000+ ideas on pretty much any topic. Created by the smartest people around & well-organized so you can explore at will.

An Idea for Everything

Explore the biggest library of insights. And we've infused it with powerful filtering tools so you can easily find what you need.

Knowledge Library

Powerful Saving & Organizational Tools

Save ideas for later reading, for personalized stashes, or for remembering it later.

# Personal Growth

Take Your Ideas

Anywhere

Organize your ideas & listen on the go. And with Pro, there are no limits.

Listen on the go

Just press play and we take care of the words.

Never worry about spotty connections

No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.

Get Organized with Stashes

Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.

Join

2 Million Stashers

4.8

5,740 Reviews

App Store

4.7

72,690 Reviews

Google Play

samz905

Don’t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.

Shankul Varada

Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.

Ashley Anthony

This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!

Sean Green

Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.

Jamyson Haug

Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.

Ghazala Begum

Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.

Giovanna Scalzone

Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.

Laetitia Berton

I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving & library

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Personalized recommendations

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates