Thinking, Fast and Slow

Authors

Daniel Kahneman

Category
Behavioural Economics

Synopsis

Thinking Fast and Slow outlines 2 systems to the brain

1. The fast, the irrational, the intuitive and the automatic. Meet your System 1.
2. The slow, the rational, the effortful and the calculated. Meet your System 2.

Once the systems and their characteristics are properly introduced, Kahneman then explains the heuristics and biases that affect them and our thinking.

The book also covers the (slightly alarming) overconfidence of what the mind believes it knows, prospect theory and our loss aversion, and the differences between our ‘experiencing self’ and ‘remembering self’.

In short, it’s pretty much Kahneman’s lifetime’s work.

Oh and he won the Nobel Prize for it. So, ya know, it’s pretty good….

What I took from reading it

The somewhat depressing understanding of just how irrational us humans really are. Despite what I’d like to believe, mine and all our decisions aren’t made with as much careful and meticulous consideration as initially thought.

So, really, a loss of faith in the majority of human judgement. Cool.

But it’s not all doom and gloom. This book was partly responsible for the shift in our entire business proposition. And Kahneman is so good we barely needed to give it a second thought*. What could possibly go wrong? 😉

*We jest. We actually gave it lots of thought and are really excited about it!

Who should read this book

If you even so much mutter the word ‘consumer’, then you need to read this book so you can understand how you should be appealing to their system 1.

In fact, even if ‘consumer’ isn’t in your daily vocabulary, you’ll still have a wonderful time learning about how your own brain works.

Where to Buy

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