“Characteristics of System 1: • generates impressions, feelings, and inclinations; when endorsed by System 2 these become beliefs, attitudes, and intentions • operates automatically and quickly, with little or no effort, and no sense of voluntary control • can be programmed by System 2 to mobilize attention when a particular pattern is detected (search) • executes skilled responses and generates skilled intuitions, after adequate training • creates a coherent pattern of activated ideas in associative memory • links a sense of cognitive ease to illusions of truth, pleasant feelings, and reduced vigilance • distinguishes the surprising from the normal • infers and invents causes and intentions • neglects ambiguity and suppresses doubt • is biased to believe and confirm • exaggerates emotional consistency (halo effect) • focuses on existing evidence and ignores absent evidence (WYSIATI)• generates a limited set of basic assessments • represents sets by norms and prototypes, does not integrate• matches intensities across scales (e.g., size to loudness) • computes more than intended (mental shotgun) • sometimes substitutes an easier question for a difficult one (heuristics) • is more sensitive to changes than to states (prospect theory)* • overweights low probabilities* • shows diminishing sensitivity to quantity (psychophysics)* • responds more strongly to losses than to gains (loss aversion)* • frames decision problems narrowly, in isolation from one another*”

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About Daniel Kahneman

Israeli-American psychologist

Daniel Kahneman was an Israeli-American psychologist best known for his work on judgment and decision-making, and for his role in behavioral economics. He was awarded the 2002 Nobel Memorial Prize in Economic Sciences with Vernon L. Smith. His research challenged the idea that people act as fully rational decision-makers, a core assumption in modern economic theory. He became known as the “grandfather of behavioral economics,” and his work is closely associated with how people think, choose, and judge under uncertainty.

More from Daniel Kahneman (135 quotes) →

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Books by Daniel Kahneman

Thinking, fast and slow

2011

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Choices, values, and frames

2000

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Judgement under uncertainty

1981

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Well-being

1998

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