Thinking, Fast and Slow

By Daniel Kahneman,

Book cover of Thinking, Fast and Slow

Book description

The phenomenal international bestseller - 2 million copies sold - that will change the way you make decisions

'A lifetime's worth of wisdom' Steven D. Levitt, co-author of Freakonomics
'There have been many good books on human rationality and irrationality, but only one masterpiece. That masterpiece is Thinking, Fast and…

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Why read it?

37 authors picked Thinking, Fast and Slow as one of their favorite books. Why do they recommend it?

I found this to be both a provocative and extremely useful book. Kahneman describes two very different human modes of thinking and decision-making.

Slow thinking is analytical and more objective, but it takes a lot of mental energy—and humans are essentially lazy animals. Fast thinking, by contrast, is fast, intuitive, and grounded more in experience and emotion.

Based on this dichotomy, Kahneman explores the different kinds of biases we are prone to unless we’re very careful. I found the author’s concepts applicable to a wide range of situations, including investing and business decision-making.

This book reminds me of why I majored in psychology as an undergraduate and why I was drawn to the program of research I ultimately developed in my own career (the role of stereotypes in workplace discrimination). 

Over the course of his research career, Daniel Kahneman has made the case in many and varied ways that human cognition is limited and can lead to biases in judgments and choices particularly in unpredictable situations (a hallmark of many organizations). Understanding these limitations is the first step toward understanding how to work with them and around them to improve decision making in the…

Danny Kahneman is a colleague (now emeritus) at the Bendheim Center for Finance, Princeton University who has been instrumental in creating the field of behavioral economics and finance – along with Amos Tversky and others.

Professor Kahneman has written numerous and well-cited papers and books on the topic of systematic biases when rendering decisions under uncertainty.

This bestselling book provides a delightful survey of these tendencies and approaches for helping individuals overcome their biases. It behooves every investor to become familiar with these natural tendencies when implementing strategies to maximize the probabilities of attaining their investment goals.

While this is not per se an investment book, I include it in my list because it teaches you how the mind works.

I believe this insight can lead you to be a better investor because so much of our decision making process is based both on logic and emotion. The more aware you are about what drives your decisions (which ultimately impact your results), the better your decisions over time (and the better your results). 

This book has helped me explore the way we think and make decisions.

By highlighting the cognitive biases that can impact our decision-making, it provides practical insights and strategies for making better choices. Written in an engaging and accessible style, the book is relevant not only for individuals but also for larger group entities.

It has helped me objectivize my thinking processes and to think more critically and to be less impulsive. It has also been useful in how I go about trying to form better habits while minimizing detrimental ones.

From Oagis' list on helping to leggo that ego.

Managers tend to think that the key to managing people is understanding how their subordinates consciously respond to the situations in which they find themselves at work. 

This book, summarizing decades of research by the Nobel-winning author and his colleague, Amos Tversky, shows why no less importance must be paid to employees’ more automatic responses.

This book got me to think about how pay transparency (and other pay-related factors) can impact employee behavior in ways that employees may not even be consciously aware of, and what management must do in order to take these automatic responses into account. 

From Peter's list on (mis)managing people at work.

On spotting an unidentifiable object on the African Savanna, a human ancestor would have been better off assuming it was a cheetah and escaping.

The alternative—staying in place while pondering whether it was merely a rock—could have killed him. Nobel Laurette Kahneman’s easy-to-read bestselling book argues that unsurprisingly, the modern human brain has evolved to “think fast” most of the time (“System 1”).

However, to make sense of the Volatile, Uncertain, Complex, and Ambiguous (VUCA) modern world, humans must engage their thoughtful System 2 brains so they can “think slow.”

Aspiring leaders who don’t master these widely accepted ideas from…

This book will give you Nobel-prize-winning insight into why people do the things they do.

If you want to get ahead in the corporate game, you need to master the art of understanding what motivates people so that you can build incentives for them to do what you want them to do for you. 

I wish I knew this early in my career because it would have helped me save a lot of time. Instead of using trial and error, using the insights in this book, I would have been able to get to the heart of peoples’ behaviors sooner.…

When I read this book I suddenly realised that I never really thought.

I was always too busy reacting and responding in the moment, which meant that I failed to slow down and really think properly.

As Kahnemann is a Nobel Prize winner, this book is seriously credible but also easy to read and full of practical insights. The overall thrust is about how we make decisions, or default into a decision.

It shows all the traps we fall into and all the ways in which we can frame decisions positively so that others make the decision we want them…

I have always been a fan of the research of the psychologists Kahneman and Tversky—in fact, I did my dissertation research on the biases we make in decision-making.

Kahneman’s work shows us just how imperfect we humans really are. In everyday life, we make errors in reasoning that seem so intuitively correct. This book describes our different basic systems of thinking and how they can explain why we make errors in our judgments. Kahneman won the Nobel prize for his work on prospect theory, covered in the book.

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