Daniel Kahneman

"A huge part of Dannys work is on how we think – and how profoundly irrational we can be. That, too, is transforming business, however slowly, and explains the million copies he has sold of his new book. But, in the great sweep of history, I suspect he will be most remembered as the man who made happiness respectable."

"People who make a difference do not die alone. Something dies in everyone who was affected by them. Amos made a great deal of difference, and when he died, life was dimmed and diminished for many of us. There is less intelligence in the world. There is less wit. There are many questions that will never be answered with the same inimitable combination of depth and clarity. There are standards that will not be defended with the same mix of principle and good sense. Life has become poorer. There is a large Amos-shaped gap in the mosaic, and it will not be filled. It cannot be filled because Amos shaped his own place in the world, he shaped his life, and even his dying. And in shaping his life and his world, he changed the world and the life of many around him."

"Theres literally no difference between a physician recognizing a disease from a "facial expression", and a little child pointing to something and saying "doggie"."

"The lesson is clear: estimates of causes of death are warped by media coverage. [...] The world in our heads is not a precise replica of reality; our expectations about the frequency of events are distorted by the prevalence and emotional intensity of the messages to which we are exposed."

"Many unfortunate human situations unfold [...] where people who face very bad options take desperate gambles, accepting a high probability of making things worse in exchange for a small hope of avoiding a large loss. Risk taking of this kind often turns manageable failures into disasters."

"A plausible interpretation is that higher income is associated with a reduced ability to enjoy the small pleasures of life. [...] There is a clear contrast between the effects of income on experienced well-being and in life satisfaction. Higher income brings with it higher satisfaction, well beyond the point at which it ceases to have any positive effect on experience. [...] Life satisfaction is not a flawed measure of their experienced well-being, as I thought some years ago. It is something else entirely."

"The confidence we experience as we make a judgment is not a reasoned evaluation of the probability that it is right. Confidence is a feeling, one determined mostly by the coherence of the story and by the ease with which it comes to mind, even when the evidence for the story is sparse and unreliable. The bias toward coherence favors overconfidence. An individual who expresses high confidence probably has a good story, which may or may not be true."

"In one experience I remember vividly, there was a rich range of shades. It must have been late 1941 or early 1942. Jews were required to wear the Star of David and to obey a 6 p.m. curfew. I had gone to play with a Christian friend and had stayed too late. I turned my brown sweater inside out to walk the few blocks home. As I was walking down an empty street, I saw a German soldier approaching. He was wearing the black uniform that I had been told to fear more than others - the one worn by specially recruited SS soldiers. As I came closer to him, trying to walk fast, I noticed that he was looking at me intently. Then he beckoned me over, picked me up, and hugged me. I was terrified that he would notice the star inside my sweater. He was speaking to me with great emotion, in German. When he put me down, he opened his wallet, showed me a picture of a boy, and gave me some money. I went home more certain than ever that my mother was right: people were endlessly complicated and interesting."

"A reliable way to make people believe in falsehoods is frequent repetition, because familiarity is not easily distinguished from truth."

"It is the of the information that matters for a good story, not its completeness. Indeed, you will often find that knowing little makes it easier to fit everything you know into a coherent pattern."

"It took Francis Galton several years to figure out that and regression are not two concepts – they are different perspectives on the same concept. The general rule is straightforward but has surprising consequences: whenever the correlation between two scores is imperfect, there will be regression to the mean."

"An experiment about your next vacation will allow you to observe your attitude to your experiencing self: At the end of the vacation, all pictures and videos will be destroyed. Furthermore, you will swallow a potion that will wipe out all your memories of the vacation. How would this affect your vacation plans? How much would you be willing to pay for it, relative to a normally memorable vacation? My impression is that the elimination of memories greatly reduces the value of the experience.Imagine a painful operation during which you will scream in pain and beg the surgeon to stop. However, you are promised an amnesia-inducing drug that will wipe out any memory of the episode. Here again, my observation is that most people are remarkably indifferent to the pains of their experiencing self. Some say they don’t care at all. Others share my feeling, which is that I feel pity for my suffering self but not more than I would feel for a stranger in pain.I am my remembering self, and the experiencing self, who does my living, is like a stranger to me."