The Prof G Pod with Scott Galloway No Mercy / No Malice: Think Slow
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Apr 13, 2024 Explore the fascinating world of human decision-making influenced by Daniel Kahneman. Discover how cognitive biases can warp your financial perceptions, leading to risky investment choices. Learn about the surprising link between happiness and income, revealing that more money doesn't necessarily mean more joy. The discussion also highlights the significance of collaboration in research and personal growth through emotional awareness in relationships.
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Instinct vs. Reason
- Humans make decisions using instinct and reason, often taking mental shortcuts.
- These shortcuts are efficient but can lead to inaccurate, yet confidently held, beliefs.
Challenging Homo Economicus
- Daniel Kahneman challenged traditional economic theory, which assumed purely rational actors.
- He showed that human decisions often deviate from standard economic predictions.
Loss Aversion
- People feel the pain of loss more strongly than the pleasure of an equivalent gain.
- This loss aversion explains behaviors like overestimating unlikely events and buying insurance.
