Facts that challenge basic assumptions-and thereby threaten people's livelihood and self-esteem-are simply not absorbed. The mind does not digest them.

Some achieve a reputation for great successes when in fact all they have done is take chances that reasonable people wouldn't take.

We are often confident even when we are wrong, and an objective observer is more likely to detect our errors than we are.

We deeply want to be led by people who know what they're doing and who don't have to think about it too much.

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.

An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.

You should not take your intuitions at face value.