Quicklet on Daniel Kahneman's Thinking, Fast and Slow (CliffsNotes-like Summary, Analysis, and Commentary)

The fear of regret is a factor in many of the decisions that people make,” Kahneman writes

our intuition and overconfidence can lead us astray, both in our personal and professional lives

System 1 is the automatic response or kneejerk reaction. System 2, on the other hand, involves concentration and deliberation.

The major theme of Thinking, Fast and Slow nbsp;is that our brains are divided into System 1 and System 2. System 1 houses our emotion and intuition, and it processes information and makes decisions automatically. System 2 nbsp;describes the part of the brain that gets wrapped up in rationalization and concentration and value-based judgments. While System 2 saves us from many of the otherwise unchecked kneejerk idiocies of System 1, its decision-making capacity is more limited than we often think.

people tend to be more driven by fear of failure than by the promise of success.

In their study of decision making related to gambling, Kahneman and Tversky found that people tended to overvalue small risk, again showing that people make calculations and conclusions that are not aligned with probability. Decision weights nbsp;simply measure a person’s likelihood to take a risk.

Sources of Power, a study of how people are able to fine tune their intuitive skills,

“Odd as it may seem,” Kahneman sums up, “I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.”