Book Review- Thinking, Fast and Slow

Thinking, Fast and Slow
by Daniel Kahneman, 2011

Thinking Fast and Slow

This is a great book that hits on all the research in behavioral economics and cognitive biases. It’s also a devilishly slow read. 400+ pages, with each page probably averaging 4+ minutes for me as I read it and contemplated its significance. I’ve been reading it slowly over the last 2 years.

Here’s the list of topics it will discuss at length, in alphabetical order:
affect heuristic
associative memory
availability heuristic
Bayesian statistics
causal base rates
certainty effect
cognitive strain
confirmation bias
conjunctive fallacy
decision utility
decision weights
denominator neglect
disposition effect
duration neglect
ego depletion
endowment effect
experienced utility
expert intuition
focusing illusion
halo effect
hindsight bias
illusion of understanding
insufficient adjustment
intensity matching
law of small numbers
loss aversion
mental accounts and keeping score
mental shotgun
narrative fallacy
narrow/broad framing
negativity dominance
optimistic bias
outcome bias
overestimation of rare events
pattern seeking
peak-end rule
planning fallacy
preference reversals
priming and associations
prospect theory
regression to the mean
remembering self
risk aversion/seeking
sunk cost fallacy
System 1/2
what you see is all there is (WYSIATI)

Learning about these terms and recognizing when your human brain is leading you astray will improve your future decision making.

Leave a Reply

Your email address will not be published. Required fields are marked *