Top 500 Daniel Kahneman Quotes (2024 Update)
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301. “There’s a tendency to look at investments in isolation. Investors focus on the risk of individual securities.”

— Daniel Kahneman

302. “Some stereotypes are perniciously wrong, and hostile stereotyping can have dreadful consequences, but the psychological facts cannot be avoided: stereotypes, both correct and false, are how we think of categories.”

— Daniel Kahneman

303. “Although professionals are able to extract a considerable amount of wealth from amateurs, few stock pickers, if any, have the skill needed to beat the market consistently, year after year.”

— Daniel Kahneman

304. “A deeper understanding of judgments and choices also requires a richer vocabulary than is available in everyday language. The hope.”

— Daniel Kahneman

305. “Of course, we and our animal cousins are quickly alerted to signs of opportunities to mate or to feed, and advertisers design billboards accordingly.”

— Daniel Kahneman

306. “I decided to evaluate my portfolio only once a quarter. I am too loss averse to make sensible decisions in the face of daily price fluctuations.”

— Daniel Kahneman

307. “The extra daily social time of 1.7 hours in weekends raises average happiness by about 2%.”

— Daniel Kahneman

308. “My experience is that I can think while strolling but cannot engage in mental work that imposes a heavy load on short-term memory.”

— Daniel Kahneman

309. “You’re surprised by something, but you don’t really know what surprised you; you recognize someone, but you don’t really know what cues cause you to recognize that person.”

— Daniel Kahneman

310. “Although Humans are not irrational, they often need help to make more accurate judgments and better decisions, and in some cases policies and institutions can provide that help.”

— Daniel Kahneman

311. “The neglect of duration combined with the peak-end rule causes a bias that favors a short period of intense joy over a long period of moderate happiness.”

— Daniel Kahneman

312. “We focus on what we know and neglect what we do not know, which makes us overly confident in our beliefs.”

— Daniel Kahneman

313. “It was always assumed I would be a professor. I grew up thinking it.”

— Daniel Kahneman

314. “Facing a choice, we gave up rationality rather than give up the enterprise.”

— Daniel Kahneman

315. “Questioning what we believe and want is difficult at the best of times, and especially difficult when we most need to do it, but we can benefit from the informed opinions of others.”

— Daniel Kahneman

316. “Our predilection for causal thinking exposes us to serious mistakes in evaluating the randomness of truly random events.”

— Daniel Kahneman

317. “I’m in a very good mood today, and my System 2 is weaker than usual. I should be extra careful.”

— Daniel Kahneman

318. “The premise of the session is a short speech: “Imagine that we are a year into the future. We implemented the plan as it now exists. The outcome was a disaster. Please take 5 to 10 minutes to write a brief history of that disaster.”

— Daniel Kahneman

319. “Nick Epley and Tom Gilovich found evidence that adjustment is a deliberate attempt to find reasons to move away from the anchor:.”

— Daniel Kahneman

320. “The premortem is not a panacea and does not provide complete protection against nasty surprises, but it goes some way toward reducing the damage of plans that are subject to the biases of WYSIATI and uncritical optimism.”

— Daniel Kahneman

321. “Peak-end rule: The global retrospective rating was well predicted by the average of the level of pain reported at the worst moment of the experience and at its end. Duration neglect: The duration of the procedure had no effect whatsoever on the ratings of total pain.”

— Daniel Kahneman

322. “The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little. We often fail to allow for the possibility that evidence that should be critical to our judgment is missing – what we see is all there is.”

— Daniel Kahneman

323. “There is at least one source of occasion noise that we have all noticed: mood.”

— Daniel Kahneman

324. “Nisbett and Borgida summarize the results in a memorable sentence: Subjects’ unwillingness to deduce the particular from the general was matched only by their willingness to infer the general from the particular.”

— Daniel Kahneman

325. “An important advance is that emotion now looms much larger in our understanding of intuitive judgments and choices than it did in the past. The executive’s decision would today be described as an example of the affect heuristic, where judgments and decisions are guided directly by feelings of liking and disliking, with little deliberation or reasoning.”

— Daniel Kahneman

326. “Ultimately, a richer language is essential to the skill of constructive criticism.”

— Daniel Kahneman

327. “I found in the collaboration was that Amos frequently saw the point of my vague ideas much more clearly than I did.”

— Daniel Kahneman

328. “Irrational is a strong word, which connotes impulsivity, emotionality, and a stubborn resistance to reasonable argument.”

— Daniel Kahneman

329. “In the unlikely event of this book being made into a film, System 2 would be a supporting character who believes herself to be the hero.”

— Daniel Kahneman

330. “Organizations that take the word of overconfident experts can expect costly consequences.”

— Daniel Kahneman

331. “The halo effect adds the final touches, lending an aura of invincibility to the heroes of the story.”

— Daniel Kahneman

332. “We do not expect to see regularity produced by a random process, and when we detect what appears to be a rule, we quickly reject the idea that the process is truly random. Random processes produce many sequences that convince people that the process is not random after all.”

— Daniel Kahneman

333. “Subjective confidence in a judgment is not a reasoned evaluation of the probability that this judgment is correct.”

— Daniel Kahneman

334. “System 1 runs automatically and System 2 is normally in a comfortable low-effort mode, in which only a fraction of its capacity is engaged. System 1 continuously generates suggestions for System 2: impressions, intuitions, intentions, and feelings. If endorsed by System 2, impressions and intuitions turn into beliefs, and impulses turn into voluntary actions. When.”

— Daniel Kahneman

335. “In terms of noise, psychiatry is an extreme case.”

— Daniel Kahneman

336. “The essential keys to disciplined Bayesian reasoning can be simply summarized: Anchor your judgment of the probability of an outcome on a plausible base rate. Question the diagnosticity of your evidence.”

— Daniel Kahneman

337. “This example highlights two aspects of choice that the standard model of indifference curves does not predict. First, tastes are not fixed; they vary with the reference point. Second, the disadvantages of a change loom larger than its advantages, inducing a bias that favors the status quo.”

— Daniel Kahneman

338. “Two Systems This book has described the workings of the mind as an uneasy interaction between two fictitious characters: the automatic System 1 and the effortful System 2. You are now quite familiar with the personalities of the two systems and able to anticipate how they might respond in different situations.”

— Daniel Kahneman

339. “When you take the long view of many similar decisions, you can see that paying a premium to avoid a small risk of a large loss is costly. A similar analysis applies to each of the cells of the fourfold pattern: systematic deviations from expected value are costly in the long run – and this rule applies to both risk aversion and risk seeing. Consistent overweighting of improbable outcomes – a feature of intuitive decision making – eventually leads to inferior outcomes.”

— Daniel Kahneman

340. “In the absence of a competing intuition, logic prevails.”

— Daniel Kahneman

341. “In simple words, prospect theory cannot deal with disappointment.”

— Daniel Kahneman

342. “Any aspect of life to which attention is directed will loom large in a global evaluation. This is the essence of the focusing illusion, which can be described in a single sentence: Nothing in life is as important as you think it is when you are thinking about it.”

— Daniel Kahneman

343. “Two different mechanisms produce anchoring effects – one for each system. There is a form of anchoring that occurs in a deliberate process of adjustment, an operation of System 2. And there is anchoring that occurs by a priming effect, an automatic manifestation of System 1.”

— Daniel Kahneman

344. “In a paper titled “Trading Is Hazardous to Your Wealth,” they showed that, on average, the most active traders had the poorest results, while the investors who traded the least earned the highest returns.”

— Daniel Kahneman

345. “The normal state of your mind is that you have intuitive feelings and opinions about almost everything that comes your way. You like or dislike people long before you know much about them; you trust or distrust strangers without knowing why; you feel that an enterprise is bound to succeed without analyzing.”

— Daniel Kahneman

346. “Uri Simonsohn showed that college admissions officers pay more attention to the academic attributes of candidates on cloudier days and are more sensitive to nonacademic attributes on sunnier days. The title of the article in which he reported these findings is memorable enough: “Clouds Make Nerds Look Good.”

— Daniel Kahneman

347. “Hindsight bias has pernicious effects on the evaluations of decision makers. It leads observers to assess the quality of a decision not by whether the process was sound but by whether its outcome was good or bad.”

— Daniel Kahneman

348. “Cognitive ease is both a cause and a consequence of a pleasant feeling.”

— Daniel Kahneman

349. “The suppression of doubt contributes to overconfidence in a group where only supporters of the decision have a voice.”

— Daniel Kahneman

350. “From the perspective of noise reduction, a singular decision is a recurrent decision that happens only once. Whether you make a decision only once or a hundred times, your goal should be to make it in a way that reduces both bias and noise. And practices that reduce error should be just as effective in your one-of-a-kind decisions as in your repeated ones.”

— Daniel Kahneman