Thinking, Fast & Slow by Daniel Kahneman | Audiobook Summary
Top Audiobooks Summaries
00:00
Decision Making - Part 5
How a problem is framed evokes emotional responses which affect our choices. We make irrational decisions about money as it symbolizes success and achievement. The sunk cost fallacy keeps people in poor jobs, unhappy marriages, and unpromising projects. Consumers who are reminded of potential regret tend to choose safer, conventional options. To improve well-being and satisfaction, we should create more positive memories.
Transcript
Play full episode
