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Thinking Fast and Slow by Daniel Kahneman

Updated on April 5, 2014

If you liked the Black Swan Books by Nassim Nicholas Taleb, then you will also love Thinking Fast and Slow. The author, Daniel Kahneman, was awarded the Nobel Prize in Economics in 2002. Thinking Fast and Slow looks at the way our minds work when processing information about all aspects of our lives and delves into Kahneman's work as a research phycologist, but for many it is his insight into the way we make financial decisions that is most important: How we assess risk and reward. The main recurring theme of the book (eluded to in the title) is that the brain has two systems of operation: One system is fast, intuitive and emotional and the other slower and more logical. These two systems are used for different types of task, some requiring a quick approximate answer and some a more methodical, accurate answer. The book explains these two systems that control how we think and make choices.

Kahneman gives many examples of his psychological experiments performed over many years and interprets the results, to show how easily the human mind is tricked; how presenting data in different ways can steer the reader towards the wrong conclusion.

Thinking Fast and Slow is a New York Times Bestseller and is also discussed and recommended in Nassim Nicholas Taleb's book,Fooled by Randomness, and by Freakonomics co-author Steven D. Levitt. This book could change the way in which you make financial decisions for the better, by understanding the processes the brain uses to make such decisions.

The author Daniel Kahneman was awarded the Nobel Prize in Economics in 2002 and is the Eugene Higgins Professor of Psychology at Princeton University and Emeritus Professor of Public Affairs at Woodrow Wilson School of Public and International Affairs.

Other books that deal with similar subjects from Nassim Nicholas Taleb, including the Black Swan: The Impact of the Highly Improbable

Daniel Kahneman and Nassim Nicholas Taleb

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      reasonablerobby 3 years ago

      Superb book . I recommend it to my marketing students.