One thing we have lost, that we had in the past, is a sense of progress, that things are getting better. There is a sense of volatility, but not of progress.

This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.

We are far too willing to reject the belief that much of what we see in life is random.

The average investor's return is significantly lower than market indices due primarily to market timing.

Clearly, the decision-making that we rely on in society is fallible. It's highly fallible, and we should know that.

I used to hold a unitary view, in which I proposed that only experienced happiness matters, and that life satisfaction is a fallible estimate of true happiness.

Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance.