Summary of Thinking, Fast and Slow by Kahneman - 1st edition
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How does our memory affect our choices? - Chapter 36
When people are about to die, their loved ones rush to them for one last moment, before death sets in. Why do we care so much about that final moment? Why is it so important that a movie ends with people arriving in time, while the length of the life was not taken in consideration? It hardly matters learning that they actually had several days together instead of 5 minutes, but someone being too late would be a big deal to you. Stories are about memorable moments and important events, not about the passing of time. In a story, duration neglect is normal and the ends often defines whether it’s a good or bad story.
Caring for someone usually means being concerned for the quality of his/her story, not for his/her feelings. We also deeply care for the narrative of our own life story.
Psychologist Diener examined whether the peak-end rule and duration neglect govern the evaluation of an entire life. The results demonstrated that both did. Doubling the duration of the life of the fictitious woman had no effect on the judgments of her total happiness nor on the desirability of her life. In addition, a less-more effect was found: adding ‘slightly happy’ years to a really happy life caused a drop in evaluations of total happiness: they made the whole life worse.
Consider you are making vacation plans. Would you go for the beautiful place you enjoyed with your family last summer or visit a whole new location, enriching your memory store? The tourism industry helps people collecting memories and constructing stories. The goal of storing memories shapes the vacation plans and the experience of it. The word ‘memorable’ is frequently used to describe the highlights of the vacation. The remembering self is the one that chooses vacations. A study shows that the final evaluation of a vacation entirely determines the intentions for future breaks, although that did not accurately reflect the quality of the whole experience (as described in a diary). We choose by memory when we decide whether we repeat an experience or not. Eliminating memories is likely to significantly reduce the value of the experience.
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Summary of Thinking, Fast and Slow by Kahneman - 1st edition
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Summary of Thinking, Fast and Slow by Kahneman - 1st edition
- What is the book 'Thinking, fast and slow' by Kahneman about?
- What distinguishes fast and slow thinking? - Chapter 1
- How do fast and slow thinking deal with effortful tasks? - Chapter 2
- How does the 'lazy control' of slow thinking work? - Chapter 3
- How does the 'associative machinery' of fast thinking work? - Chapter 4
- When is your mind at ease? - Chapter 5
- How does your mind deal with surprises? - Chapter 6
- Why do people so often jump to conclusions? - Chapter 7
- How are your judgments formed? – Chapter 8
- How do you generate an intuitive opinion on a complex problem? – Chapter 9
- When should researchers be more suspicious of their statistical intuitions? – Chapter 10
- How do unknown quantities enhance bias in your mind? – Chapter 11
- How do unknown frequencies enhance bias in your mind? – Chapter 12
- How do risk and availability enhance bias in your mind? - Chapter 13
- How do you prevent false intuitive judgement? - Chapter 14
- How is fallacy formed in you mind? - Chapter 15
- How does causally connected storytelling enhance bias in you mind? - Chapter 16
- How does causal interpretation enhance bias in you mind? - Chapter 17
- How can you tame and correct your intuitive predictions? - Chapter 18
- Why is every success story you read or hear often wrong? - Chapter 19
- How does the illusion of validity make you overconfident in your ability to predict the future? - Chapter 20
- How can you use statistics to correct intuitions? - Chapter 21
- When do your judgments reflect true expertise? – Chapter 22
- What is the importance of the 'outside view' versus the 'inside view' for your judgements? – Chapter 23
- What is the best remedy for overconfident optimism? – Chapter 24
- How does your valuing relate with actual value? – Chapter 25
- Why is 'Prospect theory' better than 'Utility theory' in understanding the evaluation of financial outcomes? – Chapter 26
- Why is 'Prospect theory' better than 'Utility theory' in understanding the endowment effect of valuing valuables? – Chapter 27
- How is your decision-making affected by avoiding a loss and achieving a gain? – Chapter 28
- How is your decision-making affected by the value you attribute to losses, gains and wealth? – Chapter 29
- How is your decision-making affected by rare events? – Chapter 30
- How can you remedy the exaggerated caution evoked by loss aversion and the exaggerated optimism of the planning fallacy? – Chapter 31
- How do you keep mental account of gains, losses and regret? – Chapter 32
- When do preference reversals occur? - Chapter 33
- How is your decision-making affected by words that induce emotion? - Chapter 34
- How can our memory affect our judgments of experiences? - Chapter 35
- How does our memory affect our choices? - Chapter 36
- What does research about experienced well-being learn us? – Chapter 37
- How does your thinking affect your experience of happiness? – Chapter 38
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Summary of Thinking, Fast and Slow by Kahneman - 1st edition
Summary per chapter with the 1st edition of Thinking, Fast and Slow by Kahneman
- What is the book about?
- Part 1: How do fast thinking and slow thinking work? Chapters 1-9
- Part 2:
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