Thinking, Fast and Slow

Interesting Facts

• The book divides thinking into two types: System 1 (fast, intuitive) and System 2 (slow, logical).
• Kahneman received the Nobel Prize in Economics in 2002 for the work described in this book.
• One of the key concepts of the book is 'confirmation bias,' where people tend to seek information that confirms their beliefs.
• Kahneman describes the 'anchoring effect,' where people heavily rely on the first piece of information they receive.
• The book explores the 'illusion of understanding,' where people overestimate their knowledge and ability to predict the future.
• Kahneman introduces the concept of 'availability heuristic,' where people assess the probability of events based on how easily they can recall examples of those events.
• The book also examines the 'endowment effect,' where people assign more value to things they own than to things they do not.