Thinking, Fast and Slow
Table of Contents
System 1 and System 2
System 1
- Fast. Irrational system.
- Automatic.
- Responsible for survival of human civilization.
System 2
- Slow and Logical.
When you use system 1 instead of system 2, it leads to biases and fallacies. Hence, not optimal.
Anchoring
The Science of Availability
People in general are Loss Averse
Framing
- 10% chance you are going to die vs 90% chance you are going to live.