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Daniel Kahneman

๐Ÿ‘ค Speaker
See mentions of this person in podcasts
643 total appearances

Appearances Over Time

Podcast Appearances

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

So actually, I have the same idea, really, that when you are making decisions, you should think of options as if they were candidates.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

So you should break it up into dimensions, evaluate each dimension separately, then look at the profile, and the key is delay your intuition.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

Don't try to form an intuition quickly, which is what we normally do.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

Focus on the separate points.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

And then when you have the whole profile,

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

then you can have an intuition and it's going to be better.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

Because people form intuitions too quickly and the rapid intuitions are not particularly good.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

So if you delay intuition until you have more information, it's going to be better.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

You delay intuition by focusing on the separate problems.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

So our advice is that if you have, you know, a board of directors making decisions about an investment,

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

We tell them, you do it that way.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

Take the separate dimensions and really think about each dimension separately and independently.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

And don't allow, you know, if you're the chair, don't allow people to give their final judgment.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

Say, we'll wait until we cover the whole thing.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

I mean, if you find a deal breaker, then you stall.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

But if you haven't found a deal breaker, wait to the end.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

and look at the profile, and then your decision is almost certainly going to be better.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

Yeah, I mean, it makes you see the trade-offs more clearly.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

Otherwise, when we don't follow that discipline, there is a way in which people form impressions.

The Knowledge Project
Daniel Kahneman: Algorithms Make Better Decisions Than You

Very quickly you form an impression, and then you spend most of your time confirming it instead of collecting evidence.