The Science paper ticked off some 20 effects and biases, many reduced to simple phrases and set off in italics to make them easier to follow. Thinking, Fast and Slow updates this list with another four decades of work in the field, amounting to a Diagnostic and Statistical Manual of Mental Disorders for the irrational mind. In the course of 418 pages, Kahneman designates no fewer than three biases (confirmation, hindsight, outcome), 12 effects (halo, framing, Florida, Lady Macbeth, etc.), four fallacies (sunk-cost, narrative, planning, conjunction), six illusions (focusing, control, Moses, validity, skill, truth), two neglects (denominator, duration) and three heuristics (mood, affect, availability). A new characterization of how we misjudge the world?and a new catchphrase that we might use to describe it?appears in almost every chapter of the book. That’s Kahneman’s goal: He’s trying to give us “a richer language” for talking about decisions, he says, and “a precise vocabulary” for their analysis.
Source: http://feeds.slate.com/click.phdo?i=4170477c2b3315a487a187c420d651a1
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