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    Thinking, Fast and Slow
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    Thinking, Fast and Slow
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    Thinking, Fast and Slow
    Audiobook20 hours

    Thinking, Fast and Slow

    Written by Daniel Kahneman

    Narrated by Patrick Egan

    4/5

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    Currently unavailable

    Currently unavailable

    About this audiobook

    The guru to the gurus at last shares his knowledge with the rest of us. Nobel laureate Daniel Kahneman's seminal studies in behavioral psychology, behavioral economics, and happiness studies have influenced numerous other authors, including Steven Pinker and Malcolm Gladwell. In Thinking, Fast and Slow, Kahneman at last offers his own, first book for the general public. It is a lucid and enlightening summary of his life's work. It will change the way you think about thinking.

    Two systems drive the way we think and make choices, Kahneman explains: System One is fast, intuitive, and emotional; System Two is slower, more deliberative, and more logical. Examining how both systems function within the mind, Kahneman exposes the extraordinary capabilities as well as the biases of fast thinking and the pervasive influence of intuitive impressions on our thoughts and our choices. Engaging the listener in a lively conversation about how we think, he shows where we can trust our intuitions and how we can tap into the benefits of slow thinking, contrasting the two-system view of the mind with the standard model of the rational economic agent.

    Kahneman's singularly influential work has transformed cognitive psychology and launched the new fields of behavioral economics and happiness studies. In this path-breaking book, Kahneman shows how the mind works, and offers practical and enlightening insights into how choices are made in both our business and personal lives--and how we can guard against the mental glitches that often get us into trouble.

    LanguageEnglish
    PublisherPenguin Random House Audio
    Release dateOct 25, 2011
    ISBN9780739357996
    Unavailable
    Thinking, Fast and Slow
    Author

    Daniel Kahneman

    Daniel Kahneman was the Eugene Higgins Professor of Psychology Emeritus at Princeton University and a former professor of public affairs at the Woodrow Wilson School of Public and International Affairs. He received the 2002 Nobel Prize in Economic Sciences for his pioneering work with Amos Tversky on decision-making. He is the author of the international bestseller Thinking, Fast and Slow. He died in 2024.

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    Reviews for Thinking, Fast and Slow

    4/5

    1,527 ratings97 reviews

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    • 5/5
      This is a fascinating book. The author explains how the human mind works is a detailed, yet easily understood fashion. I have purchased copies for both my children and will re-read it again.
    • 5/5
      This is one of the most detailed books, outside of textbooks, that I've read. It is organized very well. I leave it to you to look for a summary to get an idea of the contents. I listened to an audio version, but if you seriously want to absorb the material, I recommend a text version. I would like to give a better idea about the contents, but it really is too exhaustive. I can only say that it is well done and is not one of those repetitive self-help books. I heard many points with detailed studies showing me that most of us indeed have faults in the way we think. These faults are part of our being human and much of our "fast" thinking makes it possible for us to survive. I heard that basically just learning about these problem areas will not actually cause a change in how I make decisions for the most part. At the same time, I am encouraged to at least understand that the biases are there in our thinking so that I may be willing to entertain the thought that I might be wrong. I am maybe a bit more alert to the ways that my decision-making may even be manipulated.

      I was especially interested in the two selves: the remembering self and the experiencing self. This section alone was reason to read the book.
    • 5/5
      Anyone who has ever studied economics has probably marveled at the ridiculous assumption that economists make: That people weigh the outcome of their choices and make rational decisions. In the past few years, of course, a few books have shown how bad this assumption is. People just aren't that smart and they certainly aren't that rational. This book provides ample evidence of the types of errors we commonly make when thinking and weighing decisions. Backed by a plethora of research, the conclusions can help us avoid the pitfall of the fast-thinking part of our brain, which tends to simplify decisions and is prone to error, and engage the slow-thinking part, which has a better chance of doing the right thing. It took me a long time to read this book, because though it is engagingly written, it is still pretty dense. And it doesn't settle for just a few examples; it does its best to make its case as irrefutable as possible, and that means it weights in at almost 500 pages. But every page is worth your time. My only minor criticism is that their is too much avoidance of math; in a few instances having the probably of something actually expressed mathematically, and showing how that answer was arrived at, would have made things a bit clearer.Overall, however, a masterful effort. My home-schooled daughter read several economics texts this year, but I think this is the type of book to save for last, as a capstone. Highly, highly recommended. it will save your from some serious mistakes.
    • 5/5
      This book is insightful and tought-provoking from beginning to end. A great read for anybody who wants to better understand humans, how they make decisions, and how they view the world.
    • 5/5
      Five stars from me for the amazing subtlety of its observations. Forget ego and id: this is a really convincing model of how we think, make decisions and mistakes, and what that might mean for us and even for public policy-- all based on the author's lifetime of work in psychology (and sometimes its intersections with economics). Though less accessible than other "popular" psychology books, TF&S has its own kind of pleasure-- the pleasures of recognition, like "Yes, I do over-emphasize small probabilities" or "Yes, I do substitute easier questions for more difficult ones," or more generally, "yes, that's me!"
    • 5/5
      A must-read for everyone who wants to make wise decisions!
      Especially, if decision-making is your job.
    • 5/5
      Daniel Kahneman is a psychology professor and the winner of a Nobel Prize in economics. In this book he delves into how the human mind works when we're evaluating situations, solving problems, and making decisions. In particular, he talks about two kinds of mental processing we employ. One, which he refers to as "System 1" (a phrase he emphasizes is simply a convenient label for a particular kind of thinking, not a physical thing that exists in your brain), works quickly, draws on associations between the problem before us and things we've seen before, simplifies complex problems to make them easier to handle, and produces results that just feel right. It's what we might like to call intuition. "System 2," on the other hand, proceeds slowly, logically, and analytically, for instance, when you're solving a complicated math problem. System 2 can be used to double-check on the intuitions provided by System 1, but it can also accept the conclusions System 1 feeds it and use those in its analysis. Or it can simply leave things to System 1 and never kick in at all.Both systems are useful, even crucial, in their proper domains. Without System 2, we'd never pass calculus, and without System 1, we'd be like the proverbial centipede who couldn't walk because he couldn't keep track of what all his legs were doing. But relying on System 1 can lead us astray in all kinds of ways. And Kahneman shows us many of the ways it does that, as well as exploring the difference between real people and the idealized economists' model of human beings as perfectly rational agents invariably acting in their own best self-interest.I thought most of this book was just really fantastic. I'd read a fair bit about this sort of topic before, and was a little afraid that it'd just hash over a lot of familiar ground for me, but, while I did get to be smug at having already developed the critical thinking skills not to fall for some of the trick questions designed to expose our irrationality, there was a lot here that I found really worthwhile and interesting, either because I was learning new things or because the already familiar concepts were just so wonderfully expressed.I will say that there was one multi-chapter section of the book I felt slightly less satisfied with. Mostly, that involved a lot of examination of how people say they would respond to an offered gamble or deal, and whether their responses are rational or not. There was definitely some good stuff in these chapters, but I found them much less interesting, and somewhat harder to get through than the others. In part, that's probably because the way economics types approach these kinds of problems always kind of irritates me. Even when they're trying really hard, they always seem to me to fail to appreciate how real people feel about real money, treating it as some kind of contextless shiny thing that's just abstractly nice to have. It tends to leave me wanting to grab them by the lapels and say things like, "Of course the possibility of losing money that you already have feels more significant than the possibility of winning the same amount. People fear losing money for the same reason they fear losing blood. You have a limited amount of it, can only replenish it so fast, and you need that stuff to live." I mean, come on, guys.Still, that may just be a personal quirk. Overall, it's an extremely valuable book, one that teaches some important, perhaps even utterly critical, lessons on the ways in which we can all be very, very wrong about things while being convinced we're completely, unquestionably right. Which is a perspective and a level of self-awareness that we desperately need more of in the world right now. I'd certainly like to force every politician to read it.
    • 5/5
      The qualities of human nature described in Thinking, Fast and Slow are already known to all of us at some level. We are all taught in society to believe in the rational, thinking human being as distinct from his animal peers, yet as this book excellently details, there are plenty of ways in which our seemingly rational decisions can be bent and perverted by various forms of bias. Daniel Kahneman details these two seemingly incongruous facets of our nature as two 'distinct' halves: System 1 represents our autonomous, unthinking, reflex and subconscious reactions, whereas System 2 is that logical, calculating being we consider ourselves to be. Much of the relevant research covered in this volume was pioneered and conducted by Kahneman and his late colleague Amos Tversky, to whom this volume is dedicated.

      At root, the interplay between System 1 and System 2 rests upon the fact that we are naturally adapted to choose the path of least resistance, i.e. we make decisions which require the least amount of effort. Whilst this does not necessarily mean that we (or our System 2s) are not making the decisions, it does sometimes result in our System 2s acting merely as auditors of the information being passed on by System 1. If that information appears to fit the facts, it is taken at face value, unchanged and unedited. As a result, this 'quick thinking' leads to errors and biases of which we are almost entirely unaware.

      As a summary of decades of research, the book deals with a lot of extremely interesting aspects of these decision-making processes. Each of these is handled in turn and alone, although many of them are linked and could in some ways represent different impressions of the same phenomenon. For example, an issue known as 'anchoring' is investigated, a truly staggering anomaly in which a decision can be influenced by an entirely unrelated and random suggestion placed before us: Kahneman provides us with the example of a set of experienced judges whose sentencing decisions were seen to be tilted by the results of a dice roll.

      There is a lot of ground to summarise within these pages, and Kahneman does an excellent job of presenting some fairly mundane experimental data in a way in which it becomes clear to the layman, how insightful and potent the results truly are. The first half of the book in particular is an extremely fluid read, the experimental data plays second fiddle to clear evaluations of both experiments and their results. Whilst some aspects are dealt with purely theoretically, others are highlighted in terms of their effect on certain people in society, and Kahneman makes no bones about pointing out the absurd decisions of stock brokers, businessmen, or even his own psychology students. Another nice feature of the book is that many of the chapters start with a little test which readers themselves can do, becoming a part of the experiments, easily the best way to highlight precisely how 'un-rational' our minds can truly function.

      The overarching irony of this book is that it seems to want to prove one of the theories explored between its very covers, that of our 'experiencing' and 'remembering' selves. The evidence suggests that even if the vast majority of an experience was born with enjoyment, if the end was tainted, our memory of the positive experience will be overridden by the negative. Unfortunately, this book is guilty of the very same: it opens beautifully with some lucid and unhampered prose, plenty of example tests and real world extrapolations, occasional anecdotes and witty asides. Yet the latter half of the book feels like it was written by a different Kahneman or for a different reader; it is turgid, almost lethargic, sticky with academic language, no longer peppered with as many human insights, and devoid of example tests for the reader to take part in.

      Despite this impression of it being a book of two halves, it is nevertheless highly recommendable to anyone with even a passing interest in psychology or the human mind. One needn't take away any lessons from the book's insights, but it would still be nice to think that by giving this book five stars, I'm successfully overcoming the biassed suggestions of System 1 and my 'remembering self', and basing my judgement on the rational observations of System 2 and my 'experiencing self'. Or perhaps I'm being swayed by some anchoring I'm still unaware of...
    • 4/5
      I was prompted to read this for the sole reason that it gets referenced in so many other books. It lived up to the expectation. Kahneman was a pioneer in the space where human psychology confounds traditional economic theory. Now he's a venerable storyteller about that same space. The main point of the book is that the human mind uses two systems of thinking. One is fast, instinctual, and automatic. The other is slow, logical, and conceptual. Much of our behavior and later evaluation of it can be described by how those two systems are used under varying amounts of time pressure. The book is comprised of thirty-eight short chapters covering key concepts like regression to the mean, illusions of validity, and the importance of framing when evaluating options. I found his coverage of prospect theory especially complete and understandable compared to other descriptions I've encountered.
    • 3/5
      This book is a good example of why you should not read too much about a book before reading it. The hype around this book was enormous. Everybody loved it. It was revolutionary. In the end, it's not a bad book, but I didn't think it was all that great, either. It is an interesting introduction to how we think, peppered with lots of examples, but it falls prey to what appears to be a lot of determinism, while acknowledging a smattering of environmental impact. In reality, I suspect much of what the author says is correct, but I did catch some things where he was incorrect or simplistic about something I do know something about, which always makes me suspicious of the things that are outside my usual field. Overall, I'm glad I read it, but I don't think I'd recommend it for others to read because I just wasn't that enthusiastic about his writing style (repetitive and somewhat dry) or the overall dynamic of the book.
    • 4/5
      Opportunity cost is one of the key concepts of economics; doing this means you can't do that at the same time, for example. The early part of Thinking, Fast and Slow is about how the brain economizes on the time it spends making decisions. We could engage what Kahneman calls 'System 2', our reasoning framework, for each and every decision, but this would be hugely expensive in terms of opportunity costs. All that time we spent thinking we would not spending just getting on with things. So, in most cases, our brain allocates decision making to 'System 1', our more intuitive decision making system, our gut, which acts on a set of short cuts, heuristics. In this way, the brain has evolved to economize on thinking time.

      This can lead to what Kahneman calls 'mistakes' and the rational 'homo economicus' takes yet another kicking here. But his endorsement of 'nudge' policies, designed to move people towards the 'right' decisions, pre-supposes that the people doing the nudging know what these 'right' answers are. This knowledge, of course, has to be discovered.

      That said, the incorporation of prospect theory into microeconomics in place of expected utility theory looks to be a growing field of research in the future.
    • 5/5
      A thoughtful and thought-provoking explanation of cognitive biases related to economics and decision making.
    • 4/5
      This is a very interesting look at how we humans think, and how we think we think! Do we always act in our best interests? Do we make rational economic decisions? Some of the ideas covered by Kahneman were also discussed in Michael Lewis's book, The Undoing Project. I am very glad I read Kahneman's book - much more depth.
    • 4/5
      OK, I won't lie to you. Caveats first. I was an English major and I love science. Math, not so much. A couple of the chapters near the end of the book had my eyes crossing, but I did not give up and neither should you. This is a fascinating book. An important book. It is a perfect companion to all the other things I have read on the workings of the human brain. It has important implications for everyday decision making as well as public policy. Read it.
    • 5/5
      Among other things, scientific validation of the Hindu concept of maya. Significant implications for creativity and understanding the nature of religious experience.
    • 5/5
      An amazing intro to a field I knew nothing about. Definitely deserves many more re-reads. Would I benefit from it? doubt it. Nonetheless an extremely enjoyable book.

      PS: Always be cautious of your own mind.
    • 5/5
      A model for how we think. Either fast and lose or slow with the possibility of more correct decisions.
      Thinking fast we risk jumping to conclusions, not see the broad picture, have planning fallacies, framing based decisions.
      Thinking slow: we can step back and compare things. Look out side the box. Look at the problem from multiple framings.

      I think this is a book that I will read again in a year or two. This is my second reading.
    • 5/5
      Highlights from this book should be required reading in high school.
    • 5/5
      I first encountered the work of Daniel Kahneman and his collaborator Amos Tversky when I was in graduate school. A student of artificial intelligence, I was keenly interested in the question of how to design systems that can behave ?rationally? despite their computational limits. I was thinking about computer systems, but of course human beings are also systems that have limits on the amount of ?computation??or at least thinking?that they can do. The adage of economists that rational behavior consists in doing the actions that do the most to further one?s goals given one?s beliefs simply didn?t seem to make a lot of sense when considered from a computational perspective: weighing one?s options in light of one?s goals and beliefs takes time, and if you try to weigh all your options, the world will change before you?ve finished. As various people have said, human beings are not ?frictionless deliberators.?Enter Kahneman and Tversky, whose work showed that people deviate in systematic ways from the standard model of rational thinking. The key insight is that the deviations are systematic?and they?re systematic in ways that accord with having finite reasoning capabilities. It?s not that people are irrational?Kahneman bristles at that description of his results. Rather it?s that the model of rational thinking developed by the economists may be fine as a normative model, but can?t work as a descriptive one.Kahneman and Tversky collaborated on psychological studies of reasoning for more than a decade, writing hugely influential papers, including their 1974 Science article ?Judgment under Uncertainty: Heuristics and Biases,? which is amongst the most highly cited paper in economics, and which reproduced in full in ?Thinking Fast and Slow.? Tversky died in 1996 at the age of 59, but Kahneman went on to win the Nobel Prize in Economics for their joint work in 2002. Indeed, ?Thinking Fast and Slow? is a joy to read not only for the science it contains, but also, secondarily, for the touching accounts he provides of his long collaboration with Tversky.This is Kahneman?s magnum opus: an overarching review of 50 years of research that he conducted, first with Tversky, and subsequently with other leading social scientists. It?s remarkably accessible, even when he?s describing somewhat arcane points of psychology. Amongst the many cognitive biases he describes are these:?Seemingly little things that make it easier to process information?the size or darkness of the font in text, for example?have a powerful effect on the likelihood that you will believe or approve of the information.?We readily adopt a principle of WYSIATI?what you see is all there is. We neglect the possibility that our conclusions may be biased by having only incomplete information.?We tend to apply a halo effect in assessing other people?s character or capabilities: we make specific assessments based on overall impression of them, and the errors that this induces are compounded by WYSIATI.?When we?re trying to answer a challenging question, we often substitute an easier one, without even realizing it.?Our numeric judgments are biases by ?anchoring effects? in which we are swayed by sometimes irrelevant numbers that we encounter during our reasoning process.?We often assess the quality of an experience by what happens at the end of it.These are just six of the dozens of biases that Kahneman describes. For each bias, he presents the sometimes astonishing psychological studies that support it. For example, the last bias was uncovered in experiment with a group of patients who underwent colonoscopies in the early 1990s, when anesthesia was not well-administered for these procedures. One group of patients had a few extra minutes added to the procedure at the end, during which they experienced a relatively reduced level of pain. The patients in that group felt that the experience was overall less unpleasant, even though they?d experienced all the pain of the other group plus some more!There?s an overarching coherence to Kahenman?s work: he explains human decision-making and the cognitive biases it includes, in terms of two systems: a quick-and-dirty Malcolm-Gladwell-like System 1, which, when needed, provides information and tentative conclusions to a more effortful, deliberative System 2. However, while you might be tempted to think that the errors produced by the types of cognitive biases listed above are solely the result of System 1, that would be incorrect. In fact, the connection between ?accurate? reasoning and two systems is more complex, and even when humans rely on System 2, they are still not able to behave in the ?fully rational? ways that would be specified by classical economics. It takes some careful reading of Kahneman?s book to sort this out, but on careful consideration one realizes that even with System 2 the economist?s rationality can?t be fully obtained. How could it, by creatures with finite brains?
    • 4/5
      An amazing book for a few different reasons. First, his whole point of it, the two ways of thinking... but he broadens his scope and includes very practical implications. This is a very important read.

      The reason I read it was because I saw it on a syllabus of a famous NYTimes columnist in his Yale class on "Humility." I thought, a book on psychology of the mind, relating to social economics, as it pertains to human decisions and life decisions- being a text in a course on humility. Fascinating! Do I envy those students.
    • 3/5
      This book is a good example of why you should not read too much about a book before reading it. The hype around this book was enormous. Everybody loved it. It was revolutionary. In the end, it's not a bad book, but I didn't think it was all that great, either. It is an interesting introduction to how we think, peppered with lots of examples, but it falls prey to what appears to be a lot of determinism, while acknowledging a smattering of environmental impact. In reality, I suspect much of what the author says is correct, but I did catch some things where he was incorrect or simplistic about something I do know something about, which always makes me suspicious of the things that are outside my usual field. Overall, I'm glad I read it, but I don't think I'd recommend it for others to read because I just wasn't that enthusiastic about his writing style (repetitive and somewhat dry) or the overall dynamic of the book.
    • 4/5
      Although this book is very long winded, there are some really interesting things to learn about how we think.
    • 4/5
      Revealing insight into different ways our mind works. I have already had fun observing others and myself making decisions similar to the ones in the research, and could immediately use newly gained knowledge to reconsider the logic of my thinking. Excellent stuff, and probably something kids should be given the opportunity to observe at an early age, to have better chances to make the right decisions.
    • 5/5
      Brimming with fantastic information and fascinating ideas that are applicable to everyday life! This book made me reconsider information I take for granted and reevaluate perspective in general.
    • 4/5
      After not learning much from Stumbling on Happiness, I expected this to be the same, but it actually had some very good points I hadn't seen before. The example that comes to mind is this: if you ask some people to evaluate a single lecture, and ask others to guess how well that lecturer will be doing in five years, the answers they give are identical. This illustrates matching of levels across different scales and ignorance of regression to the mean. There are several other important heuristics and biases explained, with good examples that actually make it believable that people think this way. (Of course, this assumes that you're "in on the joke" -- if you find yourself tempted to defend these patently incorrect reasoning methods, as apparently many of the participants in the studies mentioned in this book did, beware!)

      I do not agree with the author's political conclusions, and do not agree that they are required by the evidence provided earlier in the book. But this doesn't even come up until the last few chapters.
    • 4/5
      Not the most accessible read on the subject, but definitely the most credible and well researched. It has me thinking about thinking differently, and will likely cause me to pause longer when making future decisions.
    • 1/5
      Good info but really boring and dull. Tough read
    • 5/5
      Difficult reading, but well worth the insights
    • 5/5
      Although I already knew a reasonable fraction of the research underlying this book, Daniel Kahneman synthesizes it in a magisterial work that should be read by all economists and many others besides.
    • 5/5
      A must read for anyone who thinks thry think.