Thinking, Fast and Slow Terms

Any simple, efficient rule that people use to form judgments and make decisions. Heuristics are mental shortcuts that usually involve focusing on one aspect of a complex problem and ignoring others. In Thinking, Fast and… read analysis of Heuristic

A phrase that Kahneman uses, often in acronym form, to discuss the principle that people are often biased by information that is presented to them, because they assume that this information is all that is… read analysis of What You See Is All There Is (WYSIATI)

A term created by behavioral economist Richard Thaler, which describes the way that psychologists view people. Humans are not always rational, not always selfish, and are often very unstable in their likes and dislikes. This… read analysis of Humans

A term created by behavioral economist Richard Thaler which describes the way that economists view people. Econs are always rational, always selfish, and unchanging in their tastes. Kahneman argues throughout the book that people generally… read analysis of Econs