Thinking, Fast and Slow

Yeah, Daniel Kahneman came out with Thinking Fast and Slow, which was one of those super popular airport books, you know? Yeah, Thinking, Fast and Slow.

I guess put simply take it down out of the ivory tower a little bit which is what we're doing here anyway. You can do things out of love, you can do things out of fear. You do it for both reasons too. You can do things to please yourself, you can do things to please others, you can do things to avoid others being disappointed in you, you being disappointed in yourself. Presumably it's both. But is there any, I'm dying for you to tell me that when we do things out of love, we learn faster but maybe that's not the case.

Well, I don't know. I mean, so two thoughts. One is just honoring Danny Kahneman who just passed away. His work with Amos Tversky took on a version of this question in prospect theory and it's the idea of does the fear of a loss motivate us more than the prospect of a gain?

And their argument is that both can be motivating as well as the possibility of a loss but that loss is loom larger, that people are more willing to take a risky gamble to prevent a loss than they are to get a numerically equal, like a mathematically equal gain.

Daniel Conman in Amos Tversky they talk about it in their work you know they're thinking fast and slow for example which which to us is a magic book how people make decisions and he they often say if you phrase a question one way versus another way and even though the same thing is at stake it's the same equation if you phrase it this way they'll prefer that if you phrase it that way they prefer the other one it and it makes no sense because that's it about online it's like which one do you want well I think the brain runs algorithms and some of its historical and how we are raised

I should give a nod to Annie Duke. I used to always refer to this as reverse engineering, but in Annie Duke's book she wrote about this exact thing and called it backcasting, and I was like, I like the term backcasting better. I think it's more intuitive than reverse engineering.

I've mentioned Danny Kahneman a few times ... I'm just curious ... I think you have read or at least heard about his book Thinking Fast and Slow.

I'm going to recommend Daniel Kahneman's Thinking Fast and Slow for all the reasons we've been discussing over the last many minutes.

Daniel Kahneman is perhaps best known as the author of Thinking Fast and Slow, but he also helped revolutionize the fields of both psychology and economics.

He became famous for his 2011 book Thinking Fast and Slow but it was his decades of earlier research, much of it done with his collaborator Amos Tversky,

You may be familiar with system one and system two from the book Thinking Fast and Slow by Daniel Kahneman.

He wrote, not only are we blind to the obvious, but we are blind to our blindness.

The phenomenon even had a name, courtesy of the psychologists Danny Kahneman and Amos Tversky. They had called it the planning fallacy.

From an economic standpoint, this sounds backwards. You would think that larger size theoretically creates more specialization of labor and ultimately higher productivity.

If you realistically present to people what can be achieved in solving a problem, they will find that completely uninteresting. You can't get anywhere without some degree of overpromising.

I read your book. I don't know if you've thought about this or if others have said this to you, but I read this as a little bit of an analog to Danny Kahneman's book, Thinking Fast and Slow. Are you familiar with Danny and or his book?

If you realistically present to people what can be achieved in solving a problem, they will find that completely uninteresting. You can't get anywhere without some degree of overpromising.

Kahneman's book thinking fast and slow really opened a lot of eyes around the world

The research paper that Heller and the others would write is called 'Thinking Fast and Slow', which is the same name as Kahneman's 2011 book.

You know, I kind of often talk about Daniel Kahneman and thinking fast and slow was kind of just, I think, a really great overall kind of modern guide to thinking, if that isn't a little too pretentious or too precious rather.

Sutherland here subscribes to the theories of Daniel Kahneman, the author of Thinking Fast and Slow, who suggests the brain engages in two distinct kinds of thinking, system one and system two, Kahneman calls it.

The best description I've ever heard of this comes from Danny Kahneman, the Nobel-winning psychologist and author of Thinking Fast and Slow. He calls it being blind to our blindness.

You may have heard. That's the title of a wonderful book by Daniel Kahneman.

Thinking Fast and Slow

Danny Kahneman, whose famous book, Thinking Fast and Slow, also suggests that we are a house divided.

If you think about the dual processing tradition, of which Danny Kahneman and Amos Fersky are the most famous proponents, what you're getting there is an exact echo of this Buddhist or Platonic picture.

He's the author of the book Thinking Fast and Slow.

Some people read thinking fast and slow in the hope that reading it will improve their minds.

I wrote it and it didn't improve my mind.

I'm a huge fan of the book Thinking Fast and Slow. I don't know if you've read it. It's a great book.

Just understanding system 1 and system 2. If anyone watching hasn't read it I highly recommend it.

I loved this book. It helped me to understand how our minds work and how we make decisions.

I'm a big fan of his books, "Thinking, Fast and Slow." Kind of like it was one of those books.

I want to apologize to the Daniel Kahneman fans or disciples. The Nobel Prize winner talked about wrote this great book around fast and slow thinking. And I misquoted him last week saying that people were subject to slow thinking. Slow thinking is actually the good part when you rely on the better notions of your instincts or your brain to slow down and really think through stuff and offer some nuance.

I think that it's really interesting. I think from an optic standpoint, we have Trump tweeting last week that, you know, Apple should kind of get on board and help the government. And then it's kind of like the right hand, maybe not knowing what the left hand is doing. The other side of the government working closely with Apple.

It's just again, going back to Daniel Kahneman, we need to we need to think this through.

He wrote this book thinking fast and slow.

I'm sure a lot of folks here have read Thinking Fast and Slow, and Danny is, I think, one of the great social scientists in history.

Daniel Kahneman, he's a famous Nobel Prize-winning economist. He has a very good book called Thinking Fast and Slow.

I think, uh, Thinking Fast, Thinking Slow by Daniel Kahneman. Okay. Okay. It's a good book.

I wrote about Daniel Kahneman a few weeks ago.

Prospect theory won condominium his Nobel, but he's best known for his seminal book, Thinking Fast and Slow.

The titular concept that we have two thinking systems, a fast one for intuitive emotional insights and a slow one for logical calculated decisions is something that has saved me from me dozens of times.

We are prone to overestimate how much we understand about the world and to underestimate the role of chance.

Markets and random chance trump individual performance.

When something really good happens you make a great investment when you get promoted Keep in mind a lot of that is you're in the right place of the right time and be really humble.

The pain of loss is greater than the emotional benefit of gains.

The real way to make money is to zig when everyone's zagging and your emotions are not isolated to you.

a lot of it out echoes of Daniel Kahneman's thinking slow and fast.

Thinking fast and slow brought these ideas to the mainstream and became a mega best seller Neil I believe I saw it on your bookcase the last time I was over

Coniman and his longtime collaborator almost versky created a bunch of these heuristics which show which are basically rules of thumb that show how humans do not behave rationally

You learned a lot from thinking fast and slow.

The intelligent investor is like the Danny Kahneman thinking fast and slow You know a version of like, uh, you know, it's case studies. It's like distilled down for public consumption

I read his books and saw I didn't would not have guessed personally, you know that vivek would have and again no shade on vivek. He's a super successful guy.

That's why Danny called his bestselling book, thinking fast and slow because thinking fast is using system one and thinking slow is using system two.

Josiah says, Greetings from England. I recently came upon the No Stupid Questions podcast and would love to hear your thoughts on the importance of semantics, especially in relation to the idea of priming as written about in the great Danny Kahneman's Thinking Fast and Slow.

He's so great, Danny Kahneman. He is.

And so is Josiah from England exactly.

And Danny Kahneman did write a great book too, you know, Thinking Fast and Slow.

One of the things that some readers took from Thinking Fast and Slow was the idea that priming was really important. But what then happened after Danny Kahneman published Thinking Fast and Slow was that there was a huge controversy about whether it was true.

It's one of Danny Kahneman's Inventions but has gotten less attention than like thinking fast and slow and cognitive biases and so forth

So think about system one and system two, a distinction in judgment and reasoning that our good friend, wait for it. Danny Kahneman has made.

Not only are we blind to the obvious, but we are blind to our blindness.

I know that Danny Kahneman wrote about what Nassim Talab calls the narrative fallacy and Danny wrote about that in Thinking, Fast and Slow

I know that Danny Kahneman wrote about what Nassim Talab calls the narrative fallacy and Danny wrote about that in "Thinking, Fast and Slow"

Not only are we blind to the obvious, but we are blind to our blindness.

I know that Danny Kahneman wrote about what Nassim Taleb calls the narrative fallacy and Danny wrote about that in Thinking, Fast and Slow.

and Danny wrote about that in Thinking, Fast and Slow

And she was like, well, of course you do that because one of the features of the human brain, and it's actually something that Danny Condomin wrote about, and I think it's like widely misunderstood.

also Julia mentions in the book that there are ripple effects of bias or misjudgment this is something I hadn't thought about before but it is true let's say that we don't think that we have one bias we did talk about this a little bit with Daniel Coniman in episode 518 but when we think that we are not biased and others are we view ourselves as perfect we may be less patient with others also if we have one bias it can lead to other biases later on down the line cascading bias is what this was called and this is a fascinating concept where being wrong in one way can lead us to be wrong in many other ways that just make us more and more wrong no surprise there so the key is to mitigate bad decisions and bad thinking early on in the decision chain of the results chain

I read Thinking, Fast and Slow and we talked about system one and system two thinking today.

There's loads of stuff in thinking fast and slow is like ultra popular and really good overall really good book. I'm not you know criticizing the book. I think it's a great book but you know he says in that book there are these studies on priming unconscious influences can have you know big effects on our behavior and you know these are published in scientific journals.

This is a direct quote he says you have no choice but to believe that these are true about you about your behavior.

Yeah it's ego is at the center of a lot of it I mean there is a another good book called thinking about spianny dude true yeah

There's loads of stuff in Thinking, Fast and Slow is like ultra popular and really good overall really good book.

There are these studies on priming unconscious influences can have you know big effects on our behavior and you know these are published in scientific journals. This is a direct quote he says you have no choice but to believe that these are true about you about your behavior.

And you know these are published in scientific journals. This is a direct quote he says you have no choice but to believe that these are true about you about your behavior.

Danny Connellman wrote a book called Thinking Fast and Slow

I'll link to that in the show notes as well

you and I talked earlier via email about Annie Duke who I just spoke with think like three or four days ago and she would her book 'Thinking, Fast and Slow', just getting rid of bias and making better decisions.

I read Thinking Fast and Slow and we talked about system one and system two thinking today.

So you have to realize, there's a wonderful book thinking fast and slow by an economy.

Danny Connellman wrote a book called Thinking Fast and Slow Slow Thinking is in-depth thinking you're using a how or what question to trigger in-depth thinking which also is exhausting

I'll link to that in the show notes as well

and she would, her book 'Thinking, Fast and Slow', just getting rid of bias and making better decisions.

Daniel Kahneman's book, Thinking Fast and Slow, brought his groundbreaking ideas, which he pioneered with his late friend and fellow psychologist Amos Tversky, into mainstream culture.

In his 2011 book, Thinking Fast and Slow, Daniel Kahneman brought a core idea from academic psychology into mainstream cultural dialogue. The notion that human behavior at any given moment is an interplay between two forms or systems of thinking.

Before he wrote Thinking Fast and Slow, Daniel Kahneman won the Nobel Prize in Economics for helping create the field of behavioral economics.

Many have loved his book, Thinking Fast and Slow, and he's just releasing a new book he's co-authored titled Noise, A Flaw in Human Judgment.

I did not make the distinction and I didn't even coin the term system one and system two. They pre-existed my work. I picked them up because I saw that they would help us resolve many controversies in my field.

The idea, which is, I think, I find it compelling and many other people find it compelling, is that there is a very big difference in what happens in your mind when I say two plus two and what happens in your mind when I say 24 times 17.

What makes this story, I think, interesting to some people is that it's the idea that in many situations it's not system two that's in charge.

But in fact, system one runs the show a lot of the time except you never know it.

His groundbreaking 2011 book thinking fast and slow propelled him into the public eye and he went on to win countless awards and honorary degrees.