We don’t choose between experiences, we choose between memories of experiences. Even when we think about the future, we don’t think of our future normally as experiences. We think of our future as anticipated memories.

My impression is that the elimination of memories greatly reduces the value of the experience.

The idea that you can ask one question and it makes the point - well, that wasn't how psychology was done at the time.

We're generally overconfident in our opinions and our impressions and judgments.

There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.

Negotiations over a shrinking pie are especially difficult because they require an allocation of losses. People tend to be much more easygoing when they bargain over an expanding pie.

The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry.