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)
This book is one of those ones that changes the way you think and look at the world. Not just for business people but everyone. Very interesting results from psychological research also!
I thought the author did a good job of explaining the various factors that influence decision making from the big decisions to our every day choices. Although not all the specific experiments may stand the test of time (as some of them have already been debunked) the overall theoretical foundation makes a solid point that humans are not as rational and logical as we would like to think we are. The book is a bit long, and the author does have an air of pedantic academic authority, but its main contribution is making you think about the way you think, and that kind if introspection is valuable for anyone. The narration fits the tone of the book well (I personally listened at 2x).
There are way too many times in this book were the author is assuming you're looking at a diagram, or able to visually contemplate a math problem, or even assumes you're using your visual cortex to interpret a word. This is a visual work, not at all suited to listening while commuting, or hiking, or doing the dishes.
I own both and I found it to be very comparable. I was able to grasp everything from the audio, but had to repeat some parts a few times due to how dense the material was.
Showing that humans can be very bias with their beliefs and to overcome this, they need to put things in a broader context to reduce the bias.
Other memorable concepts, prospect theory! anchoring!
no I have not , but he is great speaker
not particularly, but it was a very informative scholarly book. I feel I gained a wealth of knowledge.
A must read for anyone trying to improve the way the make decisions and for anyone who is curious to understand why we think the way we do!
I have recommended this book to all my friends, one of the best pieces of work on decision making. Truly life changing. I would recommend the written format vs audio though, especially since I didn't receive the pdf file often referenced during the reading.
The audio version of this book can be a challenge at times to follow but to the patient there are ample rewards in its content. Even before finishing, I was actively recommending it to colleagues and friends.
This book is a sort of scientific manifesto for rationality, even if the author is not at ease with this description. It sheds light on some of the traps that our minds are capable of falling and will be an enduring classical. As a portfolio manager, I agree with most of the author's view regarding financial markets, even though the book failed in convincing me that I will be no different from the other guys! A piece of art, science and heavy labor!!!
I was very disappointed in this book. I am sure it is a good book but when it refers to written parts, it becomes very inconvenient while driving or cooking.
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