How good are you at making decisions?

How confident are you in your answer?

The more aware you are of the way your mind works, the less sure you will be of your answer. Our decisions are fraught with biases and distortions.

Thinking Fast and Slow is one of the most respected books on decision making. Daniel Kahneman's work won him a Nobel Prize for Economics. Some call it the bible for the developing field of Behavioural Economics.

In it he shows a number of surprising ways we fool ourselves.

Eduardo dos Santos Silva, Michael Ward, Romana Prochazkova and I met to discuss our insights from the book.

Links:

Eduardo Dos Santos Silva

Michael Ward

Romana Prochazkova

Rob McPhillips

Chapters:

00:00 Introduction: Understanding Decision-Making Systems

00:17 Key Insights from the Book

01:10 Exploring Biases and Decision-Making

01:40 The Importance of Diverse Teams

02:55 Personal Reflections and Comparisons

04:51 Frustrations with System One and System Two

05:16 Regression to the Mean: A Key Concept

06:13 Psychological Soundness and Boredom

06:58 Head, Heart, and Gut: Different Systems?

09:27 Decision-Making Processes and Logical Thinking

13:04 The Book's Audience and Writing Style

21:17 The Legacy of Kahneman and Tversky

23:00 Visual Learning in Mathematics

24:08 The Pyramid Pattern and Pattern Recognition

26:57 Heuristics, Algorithms, and AI

28:10 Cultural Differences and Fairness

28:39 Book Readability and Summaries

30:58 Taleb vs. Kahneman: Writing Styles

33:12 System One and System Two Thinking

35:01 Climbing and Decision Making

39:51 Final Thoughts and Takeaways