Daniel Kahneman's Thinking, Fast and Slow Summary by Ant Hive Media - Read Online
Daniel Kahneman's Thinking, Fast and Slow Summary
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This is a summary of Daniel Kahneman's book entitled Thinking, Fast and Slow. In the international bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation―each of these can be understood only by knowing how the two systems shape our judgments and decisions.

Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives―and how we can use different techniques to guard against the mental glitches that often get us into trouble. Winner of the National Academy of Sciences Best Book Award and the Los Angeles Times Book Prize and selected by The New York Times Book Review as one of the ten best books of 2011, Thinking, Fast and Slow is destined to be a classic.

Available in a variety of formats, this summary is aimed for those who want to capture the gist of the book but don't have the current time to devour all 512 pages. You get the main summary along with all of the benefits and lessons the actual book has to offer. This summary is not intended to be used without reference to the original book.

Published: Ant Hive Media on
ISBN: 9781311959874
List price: $3.95
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General Overview

Thinking, Fast and Slow by Daniel Kahneman is a book created to help people recognize mental errors. In it, the author aims to help readers understand and recognize these processes in themselves as well as learn how it can be corrected.

The book describes two distinct systems:

System 1 – this is an imaginary character representing the intuitive portion of the mind.

System 2 – this is an imaginary character representing the slow thinking processes of the mind.

Despite the fact that these two systems have distinctive functions, they do work together to help people assess their surroundings and guide them during the decision-making process.

Kahneman presents the argument that oftentimes people experience mental fallacies because they automatically accept concepts and information presented by System 1 without allowing an analysis process with System 2. Because the brain longs for efficiency, it goes for shortcuts, which can cause problems in judgment. Essentially, this shows that the brain is inherently lazy unless properly utilized.

Our intuitive brain tries to formulate a narrative or story of our life based on the information fed through it. Because the information is based on our experience, we don't get the entire picture. As a result, you get stereotyping, substitution, causal explanations, the halo effect, the narrative fallacy, illusion of skill, the anchoring effect, the framing effect, illusion of validity, WYSIATI or what you see is all there is and also overconfidence in the things that people think they already know. Kahneman has created these terms so people can have a different way of discussing these mental fallacies.

The author further compares two kinds of people in the book, those who live in the land of economic theory, which he dubs as Econs to those who live in reality, the humans. The former or the Econs, function with logic and considered to be rational, while the latter, the humans, can't deal with logic and are often irrational because of a flawed mindset. The humans often ignore statistical information; leading their existence based on the causal explanations and the connections they receive. In theory, the Econs often see things in life as black or white; there are no gray areas. On the other hand, in reality, the Humans are unlike Econs and view the world with a range of choices offered to them.

Finally, the author also differentiates the remembering self against the experiencing self. It's the experiencing self that gets to do the living. Meanwhile, the remembering self takes a tally and also makes the choices.

It's the experiencing self that answers questions pertaining to now, like How are things right now? Meanwhile, the remembering self deals with the overall, How was everything as a whole?

Our brain has a tendency to confuse the two, mixing the genuine experience with a memory of the experience.

Right at the final parts of the book, the author discusses how people experience happiness. He states that since humans only pay attention on certain moments, and disregards the things happening at other times; they only receive an inaccurate view of what true happiness is like. Kahneman also goes on to say the word happiness does not have a simple meaning and should not be used as if it does. (p. 308). Well-being for him, is what happens when