The title has been picked from this amazing interview of Daniel Kahneman (HT: MR Blog).
There are quite a few one-liners which have amazing insights. Call them Kahnemanisms if you like:
This one on his work is just amazing:
My main work has concerned judgment and decision-making. But I never felt I was studying the stupidity of mankind in the third person. I always felt I was studying my own mistakes.
This one on financial advisory:
There is a powerful idea that we should want to be richer. I went to a financial advisor in the States and said: “I don’t really want to get richer, but I would like to continue to live like I do.” She said: “I can’t work with you.”
On predicting financial crisis:
Many people now say they knew a financial crisis was coming, but they didn’t really. After a crisis we tell ourselves we understand why it happened and maintain the illusion that the world is understandable. In fact, we should accept the world is incomprehensible much of the time.
Why econs are popular and why he doesn’t call himself one despite being a Nobel Prize winner in eco:
Economists have a mystique among social scientists because they know mathematics. They are quite good at explaining what has happened after it has happened, but rarely before. I don’t think of myself as an economist at all.
On his retirement:
I enjoy being active but I look forward to the day when I can retire to the internet.
He is 78 and is amazing to see him being so active in the field. Most of us feel retired at half his age…
July 13, 2012 at 9:49 am |
great quotes !! he is a genius