Daniel Kahneman

Alternative descriptions of the same reality evoke different emotions and different associations. ”

If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable. ”

Political columnists and sports pundits are rewarded for being overconfident. ”

I enjoy being active, but I look forward to the day when I can retire to the Internet. ”

Most successful pundits are selected for being opinionated, because it's interesting, and the penalties for incorrect predictions are negligible. You can make predictions, and a year later people won't remember them. ”

Organizations may be better able to tame optimism than individuals are. ”

We are very influenced by completely automatic things that we have no control over, and we don't know we're doing it. ”

I think one of the major results of the psychology of decision making is that people's attitudes and feelings about losses and gains are really not symmetric. So we really feel more pain when we lose $10,000 than we feel pleasure when we get $10,000. ”

The idea that you can ask one question and it makes the point - well, that wasn't how psychology was done at the time. ”

Policy makers, like most people, normally feel that they already know all the psychology and all the sociology they are likely to need for their decisions. I don't think they are right, but that's the way it is. ”