An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.
Daniel KahnemanHuman beings cannot comprehend very large or very small numbers. It would be useful for us to acknowledge that fact.
Daniel KahnemanEconomists think about what people ought to do. Psychologists watch what they actually do.
Daniel KahnemanI enjoy being active, but I look forward to the day when I can retire to the Internet.
Daniel Kahneman