Prof. Daniel Kahneman: Art & Science of Decision Making

In an insightful Q&A, the renowned Nobel Prize Laureate in Economics and best-selling author reveals what drives our choices in business, science, and life.
DANIEL KAHNEMAN, Behavioral Economist and Nobel Laureate
ALEC ELLISON, Founder, Outvest Capital, former Vice Chairman, Jefferies
More info: www.ourcrowd.com/

[@mohammedasadi]

I think reading his book "Thinking Fast and Slow" should be mandatory for everyone on earth!

[@omarbashir4087]

Asalamualaikum Mohammad Asadi, May I know in what way it helped you , can u tell me please about it, thanks in advance

[@jimallen8186]

Add Noise to that now too.

[@drflaggstaff9008]

would certainly be more helpful than all the Shakespeare and self-harm books I was forced to read 😒

[@ram1011]

@@drflaggstaff9008 Even Shakespeare would be useful to you if you knew how to apply the knowledge gained by reading his plays...if you read Shakespeare to clear the exam...how will you know the benefits?

[@chameleontoo]

I also recommend the book that Alec mentioned, "The Undoing Project" [by Michael Lewis], I've read both many, many times.

[@wallstruss9763]

Great Info that can be very helpful and useful for daily life.

[@jorgevillarreal2245]

The real professor Xavier

[@AZTECMAN]

Adversarial Collaboration. I like it. After the vid, looked for a paper on GANs relating to this idea. I found one titled, 'PeerGAN: Generative Adversarial Networks with a Competing Peer Discriminator'.

[@jimallen8186]

Why is it he gets introduced as “an economist?” I’ve also heard Dave Snowden refer to him as ‘an economist.’ Yet he’s not an economist. He’s a psychologist while being outside of economics was a big piece to his being able to look differently thus winning the prize in economics. It is a bit like Zeynep Tufeki being able to look at public health.

[@Pose005]

Great questions

[@yuvrajanand1991]

🕯Cognitive bias serve purpose. Must figure it out before removing them. 🕯Try to figure out how much intuition is valid, useful & neccessary in your field. 🕯Intuition is useful if we first collect information in organized way. Delay the use of intuition. 🕯Intuition directly linked to, made useful by & limited by experience.

[@rthavi]

Those chairs and camera perspective make them look like they have giant heads and tiny bodies

[@theyetti90]

Him: You don't want to paralyze yourself with too much analysis. Me: How much is too much?😶

[@realfreedom8932]

Lol, i hear you

[@YemiOjo-vk7gx]

Most times, the so-called investors make decisions based on greed and not on the marginal gain. So they will most times find themselves in hot waters afterwards.

[@zachariaskoutsokostas5511]

"People are linear", this assertion of his is repeated in multiple sources and requires 1.) that he understands everything about the human nature and mind(first in the world to do) and 2.) that there is no complexity of that nature and si it can be captured in a straight line.

[@rajsharma-mr2mc]

Why don't you use subtitles

[@lizgichora6472]

Exercise cognition by collecting broad information in order to make an informed decision, thank you.

[@suresh-0129]

Delaying decision for better decision making, hmmm 👍

[@reyeetaberos7672]

*delaying intuition for better decision making :)

[@dorianphilotheates3769]

0:25 - Not an “economist”: Professor Kahneman is a psychologist.

[@ram1011]

His theories were related to "Behavioral Economics"...hence the Nobel Prize in Economics...and thus being labeled "Economist".

[@fritsvanzanten3573]

1) Noise is the engine of capitalism 2) The legacy is: "Showing things are not as people think they are", but people will ask "If they are not how we think they, how are they then". The human condition is we will never get out of this vicious circle. Certainty sells. Certainty is the engine of capitalism.

[@mikiallen7733]

It used to be home for everyone !

[@hopaideia]

He is not an economist, he is a psychologist

[@polymathpark]

Of course business executives have the gall to call Kahneman "Danny"

[@paulm6081]

Yeah that guy is a total tool

[@thomasshakelton]

I hope they are good friends otherwise its just rude

[@ram1011]

LOL!

[@doug2731]

Take a shot every time the interviewer uses #Disruptor. #BuzzWords

[@jenorite80]

The interviewer is terrible. Using notes on a phone, seriously? This guy was an executive??

[@wilsonpaulodeoliveirajunio7796]

Se acha que vou acreditar em qualquer um desculpas nunca a não ser meus amigos. É mais uns

[@TheAwesomoe]

hahah, he almost looked offended when he was asked "what would you like your legacy to be?"

[@deoarlo]

almost?

[@D.o.l.l.a.r.s]

🚶

[@dorianphilotheates3769]

I have gone to Kindergarten with people whom I still address by their last names.

[@smallbiteprod]

The interviewer is so annoying.

[@PunkAndFun]

He his a psychologist, not an economist.

[@trainme8206]

In October, Princeton University psychologist Daniel Kahneman, PhD, was awarded the Nobel Memorial Prize in Economic Sciences for his groundbreaking work in applying psychological insights to economic theory, particularly in the areas of judgment and decision-making under uncertainty.

[@PunkAndFun]

@@trainme8206 I know but that doesn't make him an economist.

[@ly8405]

@@PunkAndFun What makes an economist then?

[@PunkAndFun]

@@ly8405 Someone who studied economy. From the Wikipedia page: "Kahneman states he has never taken a single economics course". Yes, he has an honorary doctorate in econmy (that surprises the same Kahenman) but that not makes him a real economist. In any case, he could also have been an economist but he his first a psychologist, so he can't be introduced by saying that Kahenman is an economist, but the speaker should have sayed that is also (and mostly) a psychologist. Sorry for my english, I'm italian.

[@ly8405]

@@PunkAndFun I totally understand your argument. However, in this case we can also say that Adam Smith is not an economist as he never had formal economy studies. Or what about Marie Curie, who got Nobels is two fields? I agree that introduction could have been better, but perhaps the field should not only be decided by training, but also by contribution. P.S. You English is much better than mine :)

[@lowereastsideastrologist7769]

He needs to be more worried about his bias against intuitions. Most cognitive scientist don't buy "dual process" theories anymore. Instead, they view thinking to be the result of the interplay between many different functions of the brain. But the worst thing is this guy attempts to characterizes intuition backwards. Where it's main function appears to be sense patterns amnongst distant information and generate sets, the conman makes a vile attempt to invert those properties.

[@zadeh79]

@@napatsanguankaew903 I agree with him. Khaneman is biased against any model of processing which threatens his indulgent delusion of reason.

[@kurtvaldes5586]

Please reference the conflicting research, so I can read up on them. Had no idea there was a tangible means of establishing that Kahneman characterises intuition 'backwards'. Sounds like a very strong position you have there brah - particularly those final 2 sentences.

[@evilcartman32]

shhh your system 1 is showing

[@lowereastsideastrologist7769]

@@evilcartman32 As it should be. Unlike linear, delusional, assholes like yourself.

[@dagwould]

Gerd Gigarenza and Gary Klein on natural decision making. K. is right on biases, but maybe overstates them. where to test decision making frameworks? On the fireground or on the battle field.