Today’s Big Idea comes from Nobel Prize winner Daniel Kahneman and his bestselling book “Thinking, Fast and Slow”.

In the book, he explores the way in which the mind makes decisions and judgments. He does this by addressing the complexity of the human mind.
The book offers a better understanding of ‘how decisions are made’, ‘why certain judgment errors are so common’ and ‘how we can improve ourselves’.

As always, we highly recommend reading the whole book. You can buy it by clicking this link: https://amzn.to/2QNhTTK

In this video, we will focus on some key definitions from the second part of the book called: Heuristics & Biases. If you are not already familiar with the work of Kahneman we recommend that you check out our other video on ‘Thinking, Fast and Slow’ where we focus on ‘System 1’ and ‘System 2’:    • Thinking Fast and Slow by Daniel Kahn...  

But back to Heuristics & Biases. Here Kahneman demonstrates repeatedly how easily Heuristic methods and Biases can lead to misinterpretations and misunderstandings. This is due to the fact that the automatic System 1 finds relationships and causality where none exist and hence assign greater meaning to something that actually occurred due to chance.

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