Thinking, Fast and Slow

Thinking, Fast and Slow

by

Daniel Kahneman

Teachers and parents! Struggling with distance learning? Our Teacher Edition on Thinking, Fast and Slow can help.
A psychologist and Kahneman’s primary collaborator. Kahneman and Tversky’s partnership began in the early 1970s at the Hebrew University of Jerusalem, when Kahneman asked Tversky to lecture in one of his classes. Their discussion then led to their collaboration on many subjects, including intuition, forecasting, estimating, and assessing hypotheses. Their work culminated in the late 1970s in prospect theory, which addressed how human choices often deviate from the rules of rational economic theory. This collaboration led to the Nobel Prize Kahneman received in 2002, which Tversky would have shared had he not died in 1996 at age 59.

Amos Tversky Quotes in Thinking, Fast and Slow

The Thinking, Fast and Slow quotes below are all either spoken by Amos Tversky or refer to Amos Tversky. For each quote, you can also see the other characters and themes related to it (each theme is indicated by its own dot and icon, like this one:
Intuition, Deliberation, and Laziness Theme Icon
). Note: all page numbers and citation info for the quotes below refer to the Farrar, Straus and Giroux edition of Thinking, Fast and Slow published in 2011.
Part 4, Chapter 26 Quotes

For most people, the fear of losing $100 is more intense than the hope of gaining $150. We concluded from many such observations that “losses loom larger than gains” and that people are loss averse.

Related Characters: Daniel Kahneman (speaker), Amos Tversky
Page Number: 284
Explanation and Analysis:
Get the entire Thinking, Fast and Slow LitChart as a printable PDF.
Thinking, Fast and Slow PDF

Amos Tversky Character Timeline in Thinking, Fast and Slow

The timeline below shows where the character Amos Tversky appears in Thinking, Fast and Slow. The colored dots and icons indicate which themes are associated with that appearance.
Part 1, Chapter 7
Intuition, Deliberation, and Laziness Theme Icon
Human Fallibility and Overconfidence Theme Icon
In an experiment constructed by Kahneman’s long-time scientific partner Amos Tversky, people were presented with a legal scenario. Some people heard the defense, others heard the... (full context)
Part 2, Chapter 10
Stories and Subjectivity vs. Statistics and Objectivity Theme Icon
Kahneman and Tversky’s work in the early 1970s began with an exploration of whether people who have no... (full context)
Intuition, Deliberation, and Laziness Theme Icon
Stories and Subjectivity vs. Statistics and Objectivity Theme Icon
Kahneman had read shortly before his work with Tversky that psychologists commonly chose samples that exposed them to a 50% risk of failing to... (full context)
Part 2, Chapter 11
Intuition, Deliberation, and Laziness Theme Icon
Kahneman and Tversky once rigged a wheel of fortune that was marked from 0 to 100, so that... (full context)
Intuition, Deliberation, and Laziness Theme Icon
Tversky believed this effect was due to the idea that someone would start from an anchoring... (full context)
Part 2, Chapter 12
Intuition, Deliberation, and Laziness Theme Icon
Human Fallibility and Overconfidence Theme Icon
Kahneman and Tversky spent 1971-72 at the Oregon Research Institute, studying what they called the “availability heuristic.” This... (full context)
Intuition, Deliberation, and Laziness Theme Icon
Human Fallibility and Overconfidence Theme Icon
Kahneman and Tversky considered how many instances must be retrieved to get an impression of ease. The answer... (full context)
Part 2, Chapter 15
Stories and Subjectivity vs. Statistics and Objectivity Theme Icon
This cognitive illusion, which Kahneman and Tversky dubbed “the conjunction fallacy,” still remains attractive even when people realize that they have violated... (full context)
Part 2, Chapter 16
Stories and Subjectivity vs. Statistics and Objectivity Theme Icon
Kahneman and Tversky borrowed the notion of causal base rates from Icek Ajzen. In an experiment, Ajzen showed... (full context)
Part 2, Chapter 18
Intuition, Deliberation, and Laziness Theme Icon
Kahneman then describes another question he and Tversky once asked people. After describing a freshman student as “intelligent, self-confident, well-read, hardworking, inquisitive,” they... (full context)
Part 3, Chapter 20
Human Fallibility and Overconfidence Theme Icon
In 1984, Kahneman, Tversky, and a friend named Richard Thaler visited a Wall Street firm. Kahneman remembers being struck... (full context)
Part 3, Chapter 23
Human Fallibility and Overconfidence Theme Icon
A few years after beginning his work with Tversky, Kahneman convinced some officials in the Israeli Ministry of Education of the necessity for a... (full context)
Human Fallibility and Overconfidence Theme Icon
Kahneman and Tversky coined the term planning fallacy to describe plans like this that are unrealistically close to... (full context)
Intuition, Deliberation, and Laziness Theme Icon
Human Fallibility and Overconfidence Theme Icon
The outside view, Kahneman and Tversky found, is the cure to the planning fallacy. It is now called reference class forecasting—using... (full context)
Part 4, Chapter 25
Intuition, Deliberation, and Laziness Theme Icon
Choices, Losses, and Gains Theme Icon
After discovering this difference in the early 1970s, Tversky proposed to Kahneman that they study decision making to discover what rules govern people’s choices... (full context)
Intuition, Deliberation, and Laziness Theme Icon
Choices, Losses, and Gains Theme Icon
Utility theory focused on the decisions of Econs, but Tversky and Kahneman wanted to investigate the intuitive decisions of Humans. Five years after studying gambles,... (full context)
Part 4, Chapter 26
Human Fallibility and Overconfidence Theme Icon
...it was possible to assume that people evaluate gambles by tiny differences in wealth. Likewise, Tversky quickly realized that another economist had proposed that utilities were attached to changes of wealth... (full context)
Choices, Losses, and Gains Theme Icon
...and losses have different utilities. These differences were neither expected nor studied. When Kahneman and Tversky casually shifted from speaking about winning to speaking about losing in different thought experiments, they... (full context)
Choices, Losses, and Gains Theme Icon
Kahneman and Tversky found three cognitive features at the heart of prospect theory: 1) Evaluation is relative to... (full context)
Part 4, Chapter 27
Choices, Losses, and Gains Theme Icon
Thaler spent a year at Stanford while Kahneman and Tversky completed their work. During this period, they become friends and explored the endowment effect. They... (full context)
Part 4, Chapter 34
Intuition, Deliberation, and Laziness Theme Icon
Choices, Losses, and Gains Theme Icon
Kahneman and Tversky applied frames to gambles in these two scenarios. They asked some participants, “Would you accept... (full context)
Intuition, Deliberation, and Laziness Theme Icon
An experiment that Tversky carried out is another example of emotional framing, in which two outcomes of surgery are... (full context)
Choices, Losses, and Gains Theme Icon
Kahneman and Tversky also explored framing with this example: the U.S. is preparing for the outbreak of an... (full context)