Updated: Sep 6, 2020
"There may be no other person on the planet who better understands how and why we make the choices we make". -These statements by Steven D Levitt about this author is being established throughout this book.Human irrationality is the central theme of this book. Each chapter of the book commences with an illustration of the thinking process. When we land at a solution, our responses are challenged by the facts and illustrate the irrationality of our decision-making skills.
The author reveals to us the working of two systems of the thinking process. System-1 is faster and emotional, and system two, which is slower and logical. Danieal Kahneman demonstrates the extraordinary power of thinking and, at the same time, he also explains the biasing nature of human thought.The significant takeaways from the book for me were:
The brain is passive and will always adhere to system 1, which is driven by emotions. Hence always stay away from emotions throughout the decision-making process.
The statistical approach to decision making is perpetually biased. Our thinking process is more affected by the presentation of the data rather than information.
The favorable and pleasurable results are often overestimated and can bias our thinking process.
The book's quotes that struck my mind were the following words by the author while speaking about "TWO SELVES."
"A divorce is like a symphony with a screeching sound at the end- the fact that it ended badly does not mean it was all bad. You are giving the good and the bad part of your experience equal weight, although the good part lasted ten times as long as the other."
I recommend this book for those looking for serious and in-depth books on the thinking process, not advisable for beginners. The book has 500 pages and priced at Rs 916.00.
Daniel Kahneman is Professor of Psychology and Public Affairs Emeritus at the Woodrow Wilson School, the Eugene Higgins Professor of Psychology Emeritus at Princeton University, and a fellow of the Center for Rationality at the Hebrew University in Jerusalem.He has been the recipient of many awards, among them the Distinguished Scientific Contribution Award of the American Psychological Association (1982) and the Grawemeyer Prize (2002), both jointly with Amos Tversky, the Warren Medal of the Society of Experimental Psychologists (1995), the Hilgard Award for Career Contributions to General Psychology (1995), the Nobel Prize in Economic Sciences (2002), the Lifetime Contribution Award of the American Psychological Association (2007), and the Presidential Medal of Freedom (2013).
My Rating 4.5 out of 5