Thinking, Fast and Slow

Daniel Kahneman

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In Circulation

Daniel Kahneman, recipient of the Nobel Prize in Economic Sciences for his seminal work in psychology challenging the rational model of judgment and decision making, is one of the world's most important thinkers. His ideas have had a profound impact on many fields-including business, medicine, and politics-but until now, he has never brought together his many years of research in one book.

In Thinking, Fast and Slow, Kahneman takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think and make choices. One system is fast, intuitive, and emotional; the other is slower, more deliberative, and more logical. Kahneman exposes the extraordinary capabilities-and also the faults and biases-of fast thinking, and reveals the pervasive influence of intuitive impressions on our thoughts and behaviour. The importance of properly framing risks, the effects of cognitive biases on how we view others, the dangers of prediction, the right ways to develop skills, the pros and cons of fear and optimism, the difference between our experience and memory of events, the real components of happiness-each of these can be understood only by knowing how the two systems work together to shape our judgments and decisions.

Drawing on a lifetime's experimental experience, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our professional and our personal lives-and how we can use different techniques to guard against the mental glitches that often get us into trouble. Thinking, Fast and Slow will transform the way you take decisions and experience the world.

What will you learn from this book

  1. Dual Systems of Thinking: Kahneman introduces the concept of two distinct thinking systems: System 1 (fast, automatic, intuitive) and System 2 (slow, deliberate, analytical). Understanding these systems helps comprehend how individuals make decisions.

  2. Biases and Heuristics: Exploring various biases and heuristics that affect decision-making, such as the availability heuristic, representativeness heuristic, and anchoring bias. These mental shortcuts often lead to errors in judgment.

  3. Prospect Theory: Introducing Prospect Theory, which describes how people make choices under uncertainty and explains phenomena like loss aversion and framing effects.

  4. Overconfidence: Discussing the human tendency to be overconfident in judgments and predictions, leading to errors in estimating probabilities and outcomes.

  5. Regression to the Mean: Explaining the concept of regression to the mean, where extreme outcomes tend to regress toward the average over time, which can affect our interpretations of events.

  6. Halo Effect: Describing the halo effect, wherein our overall impression of a person or thing influences our feelings or thoughts about other aspects of it.

  7. Intuitive vs. Statistical Prediction: Highlighting instances where human intuition often performs worse than simple statistical models in making predictions, revealing the limitations of gut feelings.

  8. Framing and Decision Context: Discussing how the framing of choices and the context in which decisions are presented significantly influence decision-making, affecting preferences and outcomes.

  9. Hedonic Psychology: Exploring the fields of hedonic psychology and the experiencing self versus the remembering self, shedding light on how people perceive and recall experiences.

  10. Nudge Theory and Behavioral Economics: Introducing the concept of nudges, small interventions that can subtly influence people's behavior without restricting their choices, which has implications for public policy and decision-making.

Language English
ISBN-10 1846146062
ISBN-13 9780141033570
No of pages 512
Font Size Medium
Book Publisher Penguin Books
Published Date 03 Nov 2011

About Author

Author : Daniel Kahneman

1 Books

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