Handsome, fit players were more likely to be overvalued.

Formal schooling does a terrible job of preparing you to thrive as an adult.

Penguin, 2016. A modern alternative to SparkNotes and CliffsNotes, SuperSummary offers high-quality study guides that feature detailed chapter summaries and analysis of major themes, characters, quotes, and essay topics. I'd like to receive the free email course. 13.

Like other human beings, historians were prone to the cognitive biases, 31. Whenever you want to leave any gathering, just get up and leave. Project Retrospectives: Looking Back to Look Ahead, How to effectively take your Sprint Review events online, Articulating paradoxical challenges with Wicked Questions, Dealing with class imbalanced image datasets using the Focal Tversky Loss, Both army psychologist — Kahneman developed scoring system for early recruits to predict how successful they will be, First taught and met in Israeli university then both moved to the US, but kept coming back to Israel to teach and fight in wars, Danny — lots of emotional Ups and Downs and doubt; Amos — charming, clever and confident, Danny and Amos were inseparable for decades spending all day together, locked up the two of the, laughing and writing a couple of sentences a day, They first wrote Journals in psychology then moved into other areas such as economics, Later in their lives they “broke up” as Danny was left in Amos’ shadow, In the end Amos’ died before Danny and Danny received an Nobel prize, Undid lots of what psychologists, experts, doctors, economists believed in -> most prominently, experts are often wrong and humans are not rational. the memorable. Michael Lewis’ new book, The Undoing Project: A Friendship That Changed Minds discusses the underpinnings of Daniel Kahneman and Amos Tversky’s psychological work, focused on judgment and decision-making. 37. Even when you are certain in the moment that you want to do it, the test of time will reveal your true feelings, and the result may be surprising.

While we may be grateful with a 5% raise if our colleague also gets a 5% raise, we might be deeply unhappy with a 5% raise if our colleague receives a 10% raise.
34.

Predictions are not accurate statements of the world.

There are gaps in our attention.

22.

In other words, it hurts more to lose $100 than it feels good to gain $100. The noticeability of features can be manipulated by the way they are highlighted, the sense of how similar two things are might also be manipulated. When we group things together, the things we have grouped seem more similar than they otherwise would have.

1. For most people, the happiness involved in receiving a desirable object is smaller than the unhappiness involved in losing the same object.”. Loss aversion is the general tendency for humans to prefer avoiding losses to acquiring equivalent gains. Fat or misshapen sports players were more likely to be undervalued; 2. The following version of this book was used to create this study guide: Lewis, Michael. Once you consciously recognize this fact, you may not hold so closely to the predictions you and others make.

But if he gets a banana and I get a cucumber, I will throw the cucumber at the experimenter’s face.’ The moment one ape got a banana, it became the ape next door’s reference point.”. People overvalued the basketball players they own, 9. Just because the patient is better after the doctor treated him doesn’t mean he got better because the doctor treated him. Those who cannot remember the past are condemned to repeat it.

“‘If both my neighbor in the next cage and I get a cucumber for doing a great job, that’s great. 6. That’s how Amos would begin: by undoing the mistakes of others. 21.

Sports players’ nickname affects how people perceive them. It is amazing how dull history books are, given how much of what’s in them must be invented, 30. They make these judgments by, in effect, counting up the features they notice.

Handsome, fit players were more likely to be overvalued. “A prediction is a judgment that involves uncertainty.”. The Undoing Project explores the close partnership of Israeli psychologists Daniel Kahneman and Amos Tversky, whose work on heuristics in judgment and decision-making demonstrated common errors of the human psyche, and how that partnership … If you compare an apple to an orange, you will see it differently than if you compare it to a tree.

They sought to minimize regret.

Which field we go into may depend on which school teacher we met in high school, 12. Who we marry may depend on who happens to be around at the right time of life.

. 5. 3. Coaches would like a certain player more if he reminds him of his younger self, 7.

People would undervalue a player nicknamed “Manboobs”.

A great story about the partnership of Amos Tversky and Daniel Kahneman, pioneers in the field of the decision making and judgment. Regression to the mean fools us everyday. Reality is a cloud of possibility, not a point.”.

The brain is limited. However, in doing so, we fail to recognize that performance at the extremes (i.e., unusually good or bad relative to the average) will regress towards the average.

Kindle AZW file. 14. The The Undoing Project Community Note includes chapter-by-chapter summary and analysis, character list, theme list, historical context, author biography and quizzes written by community members like you.

I created this site to improve the quality of your life. The comparison between the outcomes in our lives and the outcomes in other people’s lives is a big factor in determining our satisfaction with a particular outcome. “The Undoing Project” gives lots of insights about the birth of heuristics, bias’ and behavioural psychology.

Wait a day, Amos said, and you’ll be amazed how many of those invitations you would have accepted yesterday you’ll refuse after you have had a day to think it over.”. Wait a day, and you would be surprise that you would change your mind, 25. Get access to Foundations, a growing digital notebook with notes & lessons from 85+ timeless books.

SEE ALSO: Michael Lewis is the #1 business book author of 2017. 35. Human judgment was distorted by . Source: Michael Lewis. This principle is essential if you want to master the art of influence.

18.

29. Let Us send you free Summaries Forever :), We respect your privacy and take protecting it seriously, Becoming Michelle Obama: Book Summary, Review & Quotes, Book Summary: The Gifts of Imperfection Summary Brene Brown.

If you want to weaken some stereotype, eliminate the classification.”.

How we view rewards and punishments depends on the rewards and punishments handed to the people next to us.

The context in which we compare things informs how we understand and evaluate those things. 4. The Undoing Project. Buy this book on Amazon (Highly recommend), Access My Searchable Collection of 85+ Book Notes, “By changing the context in which two things are compared, you submerge certain features and force others to the surface.”.

People seemed to believe that if a flipped coin landed on heads a few times in a row it was more likely, on the next flip, to land on tails—as if the coin itself could even things out.

The big choices we make in life are practically random, the small choices probably tell us more about who we are, 11. We think we are safe when we are not. The mind contrives to make those gaps invisible to us.

His noble reaction to living a short life has encouraged me to pursue the things that matter and not delay them to a future date. It is a biography about the two psychologists and writers Daniel Kahneman (‘Danny’) and Amos Tversky. Please check your email to confirm your subscription. No, no….

So much conventional wisdom is bullshit, not just in sports but in the world as well, 10. 15.

This turns out to be a very powerful way of doing social science.

People accept any explanation as long as it fits the facts. People predict very little and explain everything, 26. 20.
“He said, ‘Life is a book. They provided a language and a logic for articulating some of the pitfalls people encounter when they think.

See who else made the 2017 list.

19. That is, the mere act of classification reinforces stereotypes.

It’s not that people think they are perfect. People overvalue players who physically look like successful players, 8. If a basketball player makes 10 shots in a row, or if we absolutely crush a presentation at work, we expect this exceptional performance to continue.

You rock! No time to the whole book ?

Just start walking and you’ll be surprised how creative you will become and how fast you’ll find the words for your excuse.

4. ‘I’ve had three or four drinks.

28.

I might be 5 percent off my game.’ No!

HBO’s latest high-profile mini-series consciously echoes recent hits for the beloved pay cable network. Emotional arousal & mental effort altered the size of the pupil. 32.

The fact that it was a short book doesn’t mean it wasn’t a good book. “Man’s inability to see the power of regression to the mean leaves him blind to the nature of the world around him.”. The Undoing Project: A Friendship That Changed Our Minds is a 2016 nonfiction book by American author Michael Lewis, published by W.W. Norton. Thanks for exploring this SuperSummary Study Guide of “The Undoing Project” by Michael Lewis. Please try again.

Their work reshaped our understanding of the human cognitive process, challenging the rational actor models and highlighting important cognitive shortcoming that influence our attitudes, beliefs, and actions. When they made decisions, people did not seek to maximize utility.

People would undervalue a player nicknamed “Manboobs” 5.

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