Policy makers, like most people, normally feel that they already know all the psychology and all the sociology they are likely to need for their decisions. I don't think they are right, but that's the way it is.

You're surprised by something, but you don't really know what surprised you; you recognize someone, but you don't really know what cues cause you to recognize that person.

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.

Researchers who studied a thousand Dutch vacationers concluded that by far the greatest amount of happiness extracted from the vacation is derived from the anticipation period.

An executive might have a very strong intuition that a given product has promise, without considering the probability that a rival is already ahead in developing the same product.

Some memories come with a very compelling sense of truth about them. And that happens to be the case even with memories that are not true.

There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.