Thinking, Fast and Slow
Daniel Kahneman · 2011
A landmark account of the two systems behind our judgments — fast intuition and slow deliberation — and the predictable biases that result. It reshaped behavioural economics and how we understand decisions about risk and money.
Simulations to go with this book
- Prospect Theory: Loss Aversion & FramingKahneman's own theory: people weigh losses more heavily than gains, and framing changes choices.
- Hyperbolic Discounting & Present BiasPresent bias as a System 1 pull — wanting the smaller reward now over the larger one later.
- Ultimatum Game — Fairness & RejectionFairness can beat pure self-interest — a classic experiment the book uses to probe our intuitions.
- Keynesian Beauty Contest — Guess ⅔ of the AverageGuessing what others will guess: bounded reasoning and depth of thinking, on display.