Practical Advice from ‘Thinking Fast and Slow’ by Daniel Kahneman (An Actionable Books summary)

“Every significant choice we make in life carries with it some uncertainty.”

Thinking Fast and Slow, page 270

It would be difficult to exaggerate the influence and impact Daniel Kahneman has had on today’s thinkers. His TED profile says, in part, “Widely regarded as the world’s most influential living psychologist, Daniel Kahneman won the Nobel in Economics for his pioneering work in behavioral economics — exploring the irrational ways we make decisions about risk.” The list of books which are a direct or nearly direct result of his writing would be enormous. Even a partial list of his literary children and grandchildren here at Actionable Books is impressive: Drive, Freakonomics, How We Decide, The Luck Factor, Now, Discover Your Strengths, Outliers, Predictably Irrational, Uncertainty, The War of Art, Who Moved My Cheese?, A Whole New Mind.

Kahneman’s work, alone or with longtime collaborator Amos Tversky, is foundational to our understanding of ourselves. Credited with creating behavioural economics, the science of why we don’t make sense when we think about money, he won the Nobel Prize in 2002. The prize is not awarded posthumously, so Tversky is not officially listed as a recipient, yet Kahneman considers it a joint prize shared with his friend Amos. His love and admiration for his collaborator and friend is evident throughout the book. I suspect it prompted the book’s premise, our Golden Egg.

Here’s what you’ll learn:

  • Actors Cannot See What is Obvious to Observers
  • The Biases of a Large Group Tend to Cancel Out
  • Ease of Recall Trumps Reality

Read my summary of Thinking Fast and Slow at Actionable Books.

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