2011 ThinkingFastandSlow

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Subject Headings: Cognitive Bias, Loss Aversion, Prospect Theory, Overconfidence Bias, Dual Process Human Cognition Theory.

Notes

Cited By

2013

  • (Wikipedia, 2013) ⇒ http://en.wikipedia.org/wiki/Thinking,_Fast_and_Slow Retrieved:2013-12-23.
    • Thinking, Fast and Slow is a 2011 book by Nobel Memorial Prize winner in Economics Daniel Kahneman which summarizes research that he conducted over decades, often in collaboration with Amos Tversky.[1] [2] It covers all three phases of his career: his early days working on cognitive bias, his work on prospect theory, and his later work on happiness.

      The book's central thesis is a dichotomy between two modes of thought : System 1 is fast, instinctive and emotional; System 2 is slower, more deliberative, and more logical. The book delineates cognitive biases associated with each type of thinking, starting with Kahneman's own research on loss aversion. From framing choices to substitution, the book highlights several decades of academic research to suggest that people place too much confidence in human judgment.

  1. Template:Cite news
  2. Daniel Kahneman (25 October 2011). Thinking, Fast and Slow. Macmillan. ISBN 978-1-4299-6935-2. http://books.google.com/books?id=ZuKTvERuPG8C. Retrieved 8 April 2012. 

Quotes

Abstract

In the international bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation — each of these can be understood only by knowing how the two systems shape our judgments and decisions. Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives — and how we can use different techniques to guard against the mental glitches that often get us into trouble.

1. Introduction

Origins

Where We Are Now

What Comes Next

Part I Two Systems

1 The Characters of the Story 19

Two Systems
Plot Synopsis

Chapter 2 Attention and Effort 31

Chapter 3 The Lazy Controller 39

Chapter 4 The Associative Machine 50

Chapter 5 Cognitive Ease 59

Chapter 6 Norms, Surprises, and Causes 71

Chapter 7 A Machine for Jumping to Conclusions 79

Chapter 8 How Judgments Happen 89

Chapter 9 Answering an Easier Question 97

Part II Heuristics and Biases

Chapter 10 The Law of Small Numbers 109

Chapter 11 Anchors 119

Chapter 12 The Science of Availability 129

Chapter 13 Availability, Emotion, and Risk 137

Chapter 14 Tom W's Specialty 146

Chapter 15 Linda: Less is More 156

Chapter 16 Causes Trump Statistics 166

Chapter 17 Regression to the Mean 175

Chapter 18 Taming Intuitive Predictions 185

Part III Overconfidence

Chapter 19 The Illusion of Understanding 199

Chapter 20 The Illusion of Validity 209

Chapter 21 Intuitions vs. Formulas 222

Chapter 22 Expert intuition: when can we trust it? 234

Chapter 23 The Outside View 245

Chapter 24 The Engine of Capitalism 255

Chapter Part IV Choices

Chapter 25 Bernoulli's Errors 269

Chapter 26 Prospect Theory 278

Chapter 27 The Endowment Effect 289

Chapter 28 Bad Events 300

Chapter 29 The Fourfold Pattern 310

Chapter 30 Rare Events 320

Chapter 31 Risk Policies 334

Chapter 32 Keeping Score 342

Chapter 33 Reversals 353

Chapter 34 Frames and Reality 363

Chapter Part V Two Selves

Chapter 35 Two Selves 377

Chapter 36 Life as a Story 386

Chapter 37 Experienced Well-Being 391

Chapter 38 Thinking about Life 398

Chapter Conclusions 408

Chapter Appendix A Judgment Under Uncertainty 419

= Chapter Appendix B Choices, Values, and Frames 433

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References

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 AuthorvolumeDate ValuetitletypejournaltitleUrldoinoteyear
2011 ThinkingFastandSlowDaniel KahnemanThinking, Fast and Slow03745335552011

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AuthorDaniel Kahneman +
doi0374533555 +
titleThinking, Fast and Slow +
year2011 +