Thinking, Fast and Slow - Summarized for Busy People: Based on the Book by Daniel Kahneman

By Goldmine Reads

This book summary and analysis was created for individuals who want to extract the essential contents and are too busy to go through the full version. This book is not intended to replace the original book. Instead, we highly encourage you to buy the full version.

Renowned psychologist and winner of the Nobel Prize in Economics Daniel Kahneman shows us how the mind has two systems that drive how we think. In Thinking, Fast and Slow, the first system—System 1—is the fast, intuitive, and emotional system while the second system—System 2—is the slower, more deliberate, and logical system. Kahneman shows the impact of overconfidence in making decisions, the difficulties of predicting happiness in the future, and the profound effect of having cognitive biases. These can be understood based on how the two systems control our judgments and decisions.

Kahneman shows us when our intuitions can be helpful and when it can’t as well as how we can get the benefits of slow thinking. He gives us practical insights into how we make our choices both in business and in our personal lives as well as what techniques we can use in order to protect ourselves against the lapses that can cause us trouble. Given the National Academy of Sciences Best Book Award, the Los Angeles Times Book Prize, and The New York Times Book Review as one of the ten best books of 2011, Thinking, Fast and Slow is a book that would certainly affect how we think and hows we live our lives.

Wait no more, take action and get this book now!

• Language: English
• Publisher: Goldmine Reads
• Release date: Nov 29, 2018

Book preview

Thinking, Fast and Slow

Summarized For Busy People

Based on the Book by Daniel Kahneman

Goldmine Reads

Copyright © Goldmine Reads

All Rights reserved. No part of this text may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of the copyright holder.

Under no circumstances will any legal responsibility or blame be held against the publisher for any reparation, damages, or monetary loss due to the information herein, either directly or indirectly.

Respective authors own all copyrights not held by the publisher.

TABLE OF CONTENT

Thinking, Fast and Slow

BOOK OVERVIEW

ABOUT THE AUTHOR

ABOUT THIS BOOK SUMMARY

INTRODUCTION

PART ONE: TWO SYSTEMS

Chapter 1: The Characters of the Story

Chapter 2: Attention and Effort

Chapter 3: The Lazy Controller

Chapter 4: The Associative Machine

Chapter 5: Cognitive Ease

Chapter 6: Norms, Surprises, and Causes

Chapter 7: A Machine for Jumping to Conclusions

Chapter 8: How Judgments Happen

Chapter 9: Answering an Easier Question

PART TWO: HEURISTICS and Biases

Chapter 10: The Law of Small Numbers

Chapter 11: Anchors

Chapter 12: The Science of Availability

Chapter 13: Availability, Emotion, and Risk

Chapter 14: Tom W’s Specialty

Chapter 15: Linda: Less is More

Chapter 16: Causes Trump Statistics

Chapter 17: Regression to the Mean

Chapter 18: Taming Intuitive Predictions

PART THREE: Overconfidence

Chapter 19: The Illusion of Understanding

Chapter 20: The Illusion of Validity

Chapter 21: Intuitions vs. Formulas

Chapter 23: The Outside View

Chapter 24: The Engine of Capitalism

PART FOUR: Choices

Chapter 25: Bernoulli’s Errors

Chapter 26: Prospect Theory

Chapter 27: The Endowment Effect

Chapter 28: Bad Events

Chapter 29: The Fourfold Pattern

Chapter 30: Rare Events

Chapter 31: Risk Policies

Chapter 32: Keeping Score

Chapter 33: Reversals

Chapter 34: Frames and Reality

PART FIVE: Two Selves

Chapter 35: Two Selves

Chapter 36: Life as a Story

Chapter 37: Experienced Well-Being

Chapter 38: Thinking About Life

KEY Takeaways

Key Takeaway: