How good are you at making decisions?
How confident are you in your answer?
The more aware you are of the way your mind works, the less sure you will be of your answer. Our decisions are fraught with biases and distortions.
Thinking Fast and Slow is one of the most respected books on decision making. Daniel Kahneman's work won him a Nobel Prize for Economics. Some call it the bible for the developing field of Behavioural Economics.
In it he shows a number of surprising ways we fool ourselves.
Eduardo dos Santos Silva, Michael Ward, Romana Prochazkova and I met to discuss our insights from the book.
Links:
Chapters:
00:00 Introduction: Understanding Decision-Making Systems
00:17 Key Insights from the Book
01:10 Exploring Biases and Decision-Making
01:40 The Importance of Diverse Teams
02:55 Personal Reflections and Comparisons
04:51 Frustrations with System One and System Two
05:16 Regression to the Mean: A Key Concept
06:13 Psychological Soundness and Boredom
06:58 Head, Heart, and Gut: Different Systems?
09:27 Decision-Making Processes and Logical Thinking
13:04 The Book's Audience and Writing Style
21:17 The Legacy of Kahneman and Tversky
23:00 Visual Learning in Mathematics
24:08 The Pyramid Pattern and Pattern Recognition
26:57 Heuristics, Algorithms, and AI
28:10 Cultural Differences and Fairness
28:39 Book Readability and Summaries
