The guru to the gurus at last shares his knowledge with the rest of us. Nobel laureate Daniel Kahneman's seminal studies in behavioral psychology, behavioral economics, and happiness studies have influenced numerous other authors, including Steven Pinker and Malcolm Gladwell. In Thinking, Fast and Slow, Kahneman at last offers his own, first book for the general public. It is a lucid and enlightening summary of his life's work. It will change the way you think about thinking.
Two systems drive the way we think and make choices, Kahneman explains: System One is fast, intuitive, and emotional; System Two is slower, more deliberative, and more logical. Examining how both systems function within the mind, Kahneman exposes the extraordinary capabilities as well as the biases of fast thinking and the pervasive influence of intuitive impressions on our thoughts and our choices. Engaging the reader in a lively conversation about how we think, he shows where we can trust our intuitions and how we can tap into the benefits of slow thinking, contrasting the two-system view of the mind with the standard model of the rational economic agent.
Kahneman's singularly influential work has transformed cognitive psychology and launched the new fields of behavioral economics and happiness studies. In this path-breaking book, Kahneman shows how the mind works, and offers practical and enlightening insights into how choices are made in both our business and personal lives - and how we can guard against the mental glitches that often get us into trouble.
©2011 Daniel Kahneman (P)2011 Random House Audio
“A tour de force. . . Kahneman’s book is a must read for anyone interested in either human behavior or investing. He clearly shows that while we like to think of ourselves as rational in our decision making, the truth is we are subject to many biases. At least being aware of them will give you a better chance of avoiding them, or at least making fewer of them.” (Larry Swedroe, CBS News)
“A major intellectual event . . . The work of Kahneman and Tversky was a crucial pivot point in the way we see ourselves.” (David Brooks, The New York Times)
“[Thinking, Fast and Slow] is wonderful, of course. To anyone with the slightest interest in the workings of his own mind, it is so rich and fascinating that any summary would seem absurd.” (Michael Lewis, Vanity Fair)
I have listened to a lot of audiobooks on behavioral economics and this one stands out in a few ways. There is definitely some new insights that I have never picked up anywhere else. I only have two complaints. First, he expresses a few simple conclusions that are flat out wrong. They are not necessary for his content so it is not a big deal but it is annoying. My second complaint is the number of hours of listening required. I would have preferred an abridged version.
Business bent but engineering foundation. I read about 50 hours per month.
Required reading for anyone that wants to understand how they make decisions using their left (slow) and right (fast) mode of thinking.
Retired Library Media Specialist. Professor of Instructional Technology. Over 65 and living in Chicago.
I think that you need to listen more than once and have paper and pencil to write down what the author is saying in order to comprehend all of the examples. I had hoped for more technique and less biographical information about the author.
I would read more about mindfulness techniques. This is a study of research about the psychology of economics and what makes us purchase products we did not even want. The facts and studies are impressive. Relates to how are cognitive thoughts are influenced by our environment when it comes to advertising.
Keeps your interest.
Listen to it more than once. I had a difficult time accepting that educated people do not use their intelligence when purchasing stocks. I tested myself and realized he was correct about those who sell and buy stocks. We are to emotional about the products or services based on are personal experiences and we do not always look at the history and growth of the company in which we are thinking about investing before purchasing stock.
If you want to feel bad about your economic choices and how easily you can be influenced to behave in ways that make no logical sense, listen to this book.
Frankly speaking the narrator was absolutely monotone. Overall impression was off am extremely boring book.
Pleasantly surprised at the level to which what is revealed in the research, affects my life. Highly detailed, it might be too much for some. But I think it's worth it.
The book was an excellent educational tool from an expert in the field. While it had a few dry spells and was sometimes less effective at communicating its points without the visual aids as well as the recommended (in text) use of pen and paper during certain portions, it was overall extremely interesting and is filled with amusing antidotes, stories, author experiences, and comparisons. I recommend for anyone interested in the field or who enjoys reading on related subjects.
I loved this book because it explains in scientific detail so many of the human conditions of the mind, which resonated with me extremely well. Although this book spends more time talking about the problems with some of our quick and assuming "system 1" and lazy "system 2" thinking, it also reminds us of our incredible mental strength and teaches us how to recognize when we are more likely to make systematic errors. I recommend this book to everyone.
I was excited when this book first came out and bought the hard cover. Read it, and felt blah. Kahneman had been cited in so many other works, surely this book would be fantastic. It wasn't but I wanted to give it a second chance so I got the audio book as well.
But the book could have been much, much shorter to start with, and secondly, statements such as "you must accept this" are disturbing, even if his overall points are mostly valid.
The point to that second complaint is that he paints with a broad brush and that he seems to fall into a kind of confirmation bias despite his own life's research, and the context of this book. I don't think I can be fair in a short review so I'll just leave it as a cautionary note that "experts" are to be watched with a wary eye, and Kahneman is no different.
Daniel Kahneman has a long and distinguished career in research. This book is largely based on his own work. I found it an excellent and comprehensive review of a great deal of human behavior. I appreciated his recognition of his own faults and foibles. There seems to be a recurring theme which specifically attacks the roots of a lot of modern economics, which can be called homo economicus. And, I would abusing his work if I were to claim that humans are not capable of being rational. We just have to recognize that we are not some unitary mind with consistent beliefs. Throughout the book he describes and expands on the ideas of System 1 (fast, automatic) , and System 2 (slow, deliberate.) He also speaks to our intellectual laziness. Statistics form an ongoing and important sub plot within the work. I had some recent experience where his discussion on sample sizes was highly relevant. So glad I picked up this book. I do highly recommend.
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