Thinking, Fast and Slow

Nobel Prize-winning psychologist Daniel Kahneman presents decades of research differentiating two modes of thought: System 1 (fast, automatic, emotional, unconscious) and System 2 (slow, deliberate, logical, conscious). The 2011 bestseller summarizes work on cognitive biases, heuristics, and Prospect Theory showing people are loss-averse—more likely to act avoiding loss than achieving gain. Kahneman introduces the "experiencing self" versus "remembering self" and challenges assumptions of human rationality prevailing in economic theory, explaining how we make decisions and the ways we make them poorly.

5 sections · 32 lessons

Course outline

Cognitive Architecture

  1. Two Mental Systems
  2. System 2 Laziness
  3. Mental Effort Limits
  4. Cognitive Ease
  5. Priming Effects
  6. Cognitive Architecture

Mental Shortcuts

  1. Anchoring Effect
  2. Counter Anchoring
  3. Availability Heuristic
  4. Representativeness
  5. Conjunction Fallacy
  6. Question Substitution
  7. Mental Shortcuts

Overconfidence Traps

  1. WYSIATI
  2. Confirmation Bias
  3. Base Rate Neglect
  4. Narrative Fallacy
  5. Hindsight Bias
  6. Illusion of Validity
  7. Expert Intuition
  8. Planning Fallacy
  9. Overconfidence Traps

Loss and Gain

  1. Loss Aversion
  2. Reference Points
  3. Framing Effects
  4. Endowment Effect
  5. Sunk Cost Fallacy
  6. Probability Distortions
  7. Certainty Effect
  8. Loss and Gain

Two Selves

  1. Two Selves
  2. Peak-End Rule
  3. Memory Dominance
  4. Focusing Illusion
  5. Well-Being Factors
  6. Hedonic Adaptation
  7. Two Selves

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