Key Insights from 'Thinking, Fast and Slow'
- Cognitive Ease: The human brain tends to choose the path of least resistance when processing information.
- System 1 and System 2: Two distinct systems govern our thought processes. System 1 is fast, intuitive, and emotional, while System 2 is slow, deliberate, and logical.
- Heuristics and Biases: Our brains use mental shortcuts or 'heuristics' to make quick decisions, which can often lead to biases in our thinking.
- Prospect Theory: People tend to make decisions based on potential losses and gains, not final outcomes.
- Anchoring Effect: The first piece of information we receive about...
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