When people think of the outcomes of their decisions, they think much more short term than that. They think in terms of gains and losses.
Daniel KahnemanIt's clear that policymakers and economists are going to be interested in the measurement of well-being primarily as it correlates with health; they also want to know whether researchers can validate subjective responses with physiological indices.
Daniel KahnemanWe have associations to things. We have, you know, we have associations to tables and to - and to dogs and to cats and to Harvard professors, and that's the way the mind works. It's an association machine.
Daniel KahnemanIf owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable.
Daniel Kahneman