Author

Daniel Kahneman

5 key ideas, each explained in our own words.

Thinking, Fast and Slow

IDEA 1
Two modes of thought
One mode is fast, automatic and intuitive; the other is slow, effortful and logical. Most judgements come from the fast one, and the slow one rarely bothers to check.
IDEA 2
What you see is all there is
The mind builds the most coherent story it can from whatever information is in front of it, and forgets to ask what is missing. Before deciding, ask what you would need to know to change your mind.
IDEA 3
Anchors pull estimates
An arbitrary first number drags later estimates toward it, even when people know it is random. In a negotiation, the first credible number on the table shapes the range.

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