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In his later work, Kahneman focused on 'Noise'—the random variability in human judgment. If two judges give different sentences for the same crime, that is noise. He teaches that to make better decisions, we must perform 'decision hygiene. ' This involves breaking problems down, delaying intuition, and using algorithms where possible. He teaches that consistency is a hallmark of rationality.
"Unless there is an obvious reason to do otherwise, most of us passively accept decision problems as they are framed and therefore rarely have an opportunity to discover the extent to which our preferences are frame-bound rather than reality-bound. Ch. 34, "Frames and reality", p. 367."
Website: Wikiquote - Daniel Kahneman (Thinking, Fast and Slow (2011))
"Many unfortunate human situations unfold [...] where people who face very bad options take desperate gambles, accepting a high probability of making things worse in exchange for a small hope of avoiding a large loss. Risk taking of this kind often turns manageable failures into disasters. Ch. 29, "The fourfold pattern" pp. 318-319."
Website: Wikiquote - Daniel Kahneman (Thinking, Fast and Slow (2011))
"He's taking an inside view. He should forget about his own case and look for what happened in other cases. Ch. 23, "The outside view" p. 254."
Website: Wikiquote - Daniel Kahneman (Thinking, Fast and Slow (2011))
"You should inform your gut and then trust it. Discussion at Harvard - Dec 3, 2021[1][2]"
"Although humans are not irrational, they often need help to make more accurate judgements and better decisions. [...] [They] also need protection from others who deliberately exploit their weaknesses [...]. Conclusions, pp. 411-413."
Website: Wikiquote - Daniel Kahneman (Thinking, Fast and Slow (2011))
"No one ever made a decision because of a number. They need a story. Michael Lewis. "The Undoing Project: A Friendship that Changed the World". Penguin, 2016 (ISBN 9780141983035)."
"There is no evidence that risk takers in the economic domain have an unusual appetite for gambles on high stakes; they are merely less aware of risks than more timid people are. Ch. 24, "The engine of capitalism" p. 263."
Website: Wikiquote - Daniel Kahneman (Thinking, Fast and Slow (2011))
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