The book "Thinking, Fast and Slow" by Daniel Kahneman, a psychologist who won the Nobel Prize in Economics. The book explores how people think and make decisions, describing two distinct mental systems: System 1, which operates quickly, intuitively, and automatically, and System 2, which is slower, more deliberative, and requires effort. Kahneman argues that System 1 often leads to errors in judgment and irrational decisions, and that System 2 is often unable to correct these errors. The text explores several examples of how System 1 can lead to cognitive biases, such as the anchoring effect, the illusion of validity, the conjunction error, and the sunk cost fallacy. In addition, the text discusses how the endowment effect, loss aversion, and framing influence decisions. The book suggests that understanding the two mental systems and their biases can help people make more rational decisions.