The experiencing self lives in the moment; it is the one that answers the question, 'Does it hurt?' or 'What were you thinking about just now?' The remembering self is the one that answers questions about the overall evaluation of episodes or periods of one's life, such as a stay in the hospital or the years since one left college.

Intuitive diagnosis is reliable when people have a lot of relevant feedback. But people are very often willing to make intuitive diagnoses even when they're very likely to be wrong.

Individual investors predictably flock to stocks in companies that are in the news.

Experts don't know exactly where the boundaries of their expertise are.

Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don't know the odds. It's a big difference.

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.

So your emotional state really has a lot to do with what you're thinking about and what you're paying attention to.