Thinking, Fast and Slow

In particular, you may be more loss averse for aspects of your life that are more important than money, such as health. Furtherm ...

safe) product. More than two-thirds of the parents in the survey responded that they would not purchase the new product at any p ...

compelling solution. We spend much of our day anticipating, and trying to avoid, the emotional pains we inflict on ourselves. Ho ...

“We are hanging on to that stock just to avoid closing our mental account at a loss. It’s the disposition effect.” “We discovere ...

Reversals You have the task of setting compensation for victims of violent crimes. You consider the case of a man who lost the u ...

readily to mind. The familiar System 1 mechanisms of substitution and intensity matching translate the strength of the emotional ...

results support this conjecture, and the selling price is higher for bet A than for bet B. This is a preference reversal: people ...

findings and reported carefully designed experiments that tested these theories. One of their hypotheses, which—needless to say— ...

always inconsistent, or that judgments are completely chaotic. Our world is broken into categories for which we have norms, such ...

someone who does contribute to such appeals. Like many other difficult questions, the assessment of dollar value can be solved b ...

a higher intensity score, leading to a high rate of contributions by intensity matching. Joint evaluation changes the representa ...

caught fire as he was playing with matches. The firm that produced the pajamas had not made them adequately fire resistant. Case ...

government agencies including the Occupational Safety and Health Administration and the Environmental Protection Agency. He conc ...

Frames and Reality Italy and France competed in the 2006 final of the World Cup. The next two sentences both describe the outcom ...

prospect that will leave you either richer by $95 or poorer by $5. Someone whose preferences are reality-bound would give the sa ...

Figure 14 As shown, the same sure outcome can be framed in two different ways: as KEEP £20 or as LOSE £30. The objective outcome ...

A region that is commonly associated with emotional arousal (the amygdala) was most likely to be active when subjects’ choices c ...

regardless of which version she saw. But System 1, as we have gotten to know it, is rarely indifferent to emotional words: morta ...

certain option over the gamble. The outcomes of the programs are framed differently in a second version: If program A' is adopte ...

losing £30. Saving lives with certainty is good, deaths are bad. Most people find that their System 2 has no moral intuitions of ...