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Thinking Fast and Slow

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Thinking Fast and Slow by Daniel Kahneman

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Book Summary:

  • Two systems: System 1 = fast, intuitive ; System 2 = slower, more deliberate and logical
  • WYSIATI (what you see is all there is)
  • Causal errors, statistical illiteracy, and loss aversion

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.

 

Our Cocktail Party Statements:

Aaron: Thinking long and hard is good.

Phil: If you want a great book on thinking, do yourself a favor and buy Gladwell’s book.

Karin: This author is David Brook’s ugly stepsister.

 

Our Cocktail Party Index:

What’s this? Explanation of the CPI.

CPI-fast-slow