Thinking, Fast and Slow

Author: Daniel Kahneman
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Thinking, Fast and Slow

4.5

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by buckeyevol28   2018-11-10

Also reading through your posts I see you think Columbus traffic is unusually bad, even though we have some of the lowest congestion and commute times of any major metro.

I also see that you think we've reach essentially unprecedented levels of violence, when though it's much lower here and most everywhere else as there is been a steady decline for decades.

Both of the above (definitely) and the development discussion (possibly) are examples of the availability heuristic, a natural tendency to use mental shortcuts to draw conclusions based in the most readily accessible and available information.

Media and crime is the prime example. For example, crime deceased by 40% in 90's but media coverage quadrupled so people thought crime was increasing.

So it seems with traffic, crime, and development, you're drawing incorrect conclusions from things that are immediately available (stuck in traffic, crime in the news, the HQ2 proposal).

Availability Heuristic

Since one of my favorite books, Thinking, Fast and Slow is about this and other cognitive heuristics and biases plus how to avoid them. And it's by one of the Nobel Economist (technically psychologists but Nobel in Economics) who first discovered these, I thought it may be useful to advertise the book and point out something you may find beneficial.

This post looks a bit condescending after writing it out, but I don't mean it that way. And I would recommend the book to everybody since it's useful and we're all prone to these things.

by Klownd   2018-11-10

Hi Keatz01, it sounds like you already have a pretty cool background, so I'll limit these recommendations to what might be useful for you now.

The Lean Startup : Eric Ries (2011), is an easy read and I have found it useful to be familiar with the terminology/practical tips that it mentions. His 2017 extension has not been quite so well received.

Strategy Beyond the Hockey Stick : Bradley, Hirt and Smit (2018), is also accessible (albeit labored at times), and offers a few suggestions for new ways to think about quantifying the value of innovation (economic profit, in a nutshell). Despite being a McKinsey special, I felt like the explanation of their methodologies was lacking.

Thinking Fast and Slow : Daniel Kahneman (2013), is one of my favorite books, and discusses the way people think. It offers an excellent insight to behavioral economics and better develops on what you might find in Gladwell's Blink (2007).

Games People Play : Eric Berne (1966), is a fun read, not much more, and can give insight to typical behavioral patterns.

Harvard Business Review: I'm sure you know it, but some of these articles can be really insightful. Look for articles that are contextualized against data and/or case studies.

The McKinsey Quarterly: Tends to be more 'hit' than 'miss', but their introduction of the 'Five Fifty' section (where you take five minutes to decide whether investing close on an hour would be useful) has been nice.

Case in Point : Marc Cosentino (2018), is probably my highest recommendation for a casing primer. The skills are useful to have so that you can efficiently consider a problem.

Hopefully something in there proves useful. Beyond that, it's more a case of staying up-to-date. Stay abreast of emergent technology so that you know whether it's useful, take time to reassess current solutions now and then, etc etc. The next one on my reading list is /u/eliteregos' recommendation for The Trusted Advisor .

All the best!

by LeeroyEleven   2018-11-10

Also check out a book called Thinking Fast and Slow

https://toptalkedbooks.com/amzn/0374533555

by rdar1999   2018-11-10

I find game theory far more interesting than pure economics (even to understand economics), there's plenty of material online about it, but the basic games with historical context you can find here: https://openlibrary.org/works/OL118148W/Prisoner's_dilemma

Review of the book: https://plus.maths.org/issue34/reviews/book3/2pdf/index.html/op.pdf

It is a biography of Von Neumann but full of game theoretic exerts.

People always recommend me another book, about decision making (closed related to economics): https://toptalkedbooks.com/amzn/0374533555

This one I never read, plan to.

by player_03   2018-11-10

I've personally spent a lot of time on Less Wrong, but... I do have to admit that it's kind of an insular place using their own made-up jargon to promote strange ideas. Overall I approve of it and don't put much stock in the usual criticisms, but I wouldn't direct people to it if I wanted to convince them of anything.

Instead, I'd direct them to the book Thinking, Fast and Slow . It's just as accessible as Less Wrong's better-written posts, it covers a lot of the same stuff, and it's written by someone with the credentials to back up their claims.

And best of all, it includes regular examples that demonstrate your own biases to you. Examples like this, where you can actually catch your own brain making a mistake, are more likely to get through to someone who doesn't believe in, say, racial or gender bias.

by prometheus1123   2018-11-10

Further reading for anyone who is interested in chance and psychology...

Fooled By Randomness

The Drunkard's Walk: How Randomness Rules Our Lives

The Improbability Principle

Thinking, Fast and Slow

Survivorship Bias - You Are Not So Smart

by neagrigore   2018-11-10

Nu le-am citit pe cele de sus, dar din ce zici, seamănă cu Kahneman, Thinking, Fast and Slow .

by MacUser10101   2018-11-10

I can feel your frustration.

There are a couple of books about this type of error we make as humans. I think this book seems to explain these things very well (but I am only 30 pages in - did someone already read this and can confirm):

https://toptalkedbooks.com/amzn/0374533555

by mindful_island   2018-11-10

Awesome.

Philosophy is such a massive field, it can be hard to know where to start and I've barely touched the surface with what I've read. I'd recommend looking up the major categories of philosophy, what they mean and then searching on /r/askphilosophy for recommendations in that category.

Some of it can be really hard to dig into - and can seem very impractical. I like reading about Stoic philosophy and Buddhist philosophy(through a secular lens) because I find they are centered around direct day-to-day life and they focus on "living well".

I'm starting to look into reads within Ethics as that is really fascinating and I feel practical. However, I don't have any recommendations there yet.

Psychology is also so huge. I'd start with some pop-psychology to get excited about some of the concepts and more practical findings before moving on to straight up college psychology textbooks. I started out with a lot of books on psychological applications in business, sales, persuasion, identifying scams and all that. Then later on I picked up some college textbooks and read through those.

Try this one for some really fun and practical reading in psychology: https://toptalkedbooks.com/amzn/0374533555

by Redegar   2018-03-19

A chi è interessato consiglio questo libro, se non sbaglio contiene anche il quesito proposto nell'articolo!