One study found that people who just thought about watching their favorite movie actually raised their endorphin levels by 27 percent.

Unfortunately, skill in evaluating the business prospects of a firm is not sufficient for successful stock trading, where the key question is whether the information about the firm is already incorporated in the price of the stock. Traders apparently lackthe skill to answer this crucial question, but they appear to be ignorant of their ignorance.

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.

Nothing in life is quite as important as you think it is while you're thinking about it.

A general limitation of the human mind is its imperfect ability to reconstruct past states of knowledge, or beliefs that have changed. Once you adopt a new view of the world (or any part of it), you immediately lose much of your ability to recall what you used to believe before your mind changed.

I would not advise people to buy a car or house without making a list. You will probably improve your intuitions by making a list and then sleeping on it.

Poverty is clearly one source of emotional suffering, but there are others, like loneliness. A policy to reduce the loneliness of the elderly would certainly reduce suffering.