We are often confident even when we are wrong, and an objective observer is more likely to detect our errors than we are. Daniel Kahneman More Quotes by Daniel Kahneman More Quotes From Daniel Kahneman Unfortunately, skill in evaluating the business prospects of a firm is not sufficient for successful stock trading, where the key question is whether the information about the firm is already incorporated in the price of the stock. Traders apparently lackthe skill to answer this crucial question, but they appear to be ignorant of their ignorance. Daniel Kahneman skills ignorance successful An executive might have a very strong intuition that a given product has promise, without considering the probability that a rival is already ahead in developing the same product. Daniel Kahneman intuition strong promise There are some conditions where you have to trust your intuition. Daniel Kahneman trust-your-intuition conditions intuition A large portion of the weekend effects is explained by differences in the amount of time spent with friends or family between weekends and weekdays. Daniel Kahneman weekdays weekend differences We're blind to our blindness. We have very little idea of how little we know. We're not designed to know how little we know. Daniel Kahneman how know blindness blind We think, each of us, that we're much more rational than we are. And we think that we make our decisions because we have good reasons to make them. Even when it's the other way around. We believe in the reasons, because we've already made the decision. Daniel Kahneman good think decision believe When people evaluate their life, they compare themselves to a standard of what a successful life is, and it turns out that standard tends to be universal: People in Togo and Denmark have the same idea of what a good life is, and a lot of that has to do with money and material prosperity. Daniel Kahneman good money life people
