Sublime

and the vague estimate was sufficient to provide a helpful anchor as you searched for an equally attractive cash gift. No such anchor is available for question B, which is therefore much harder to answer.

Negotiations over a shrinking pie are especially difficult, because they require an allocation of losses. People tend to be much more easygoing when they bargain over an expanding pie.

Remember this rule: intuition cannot be trusted in the absence of stable regularities in the environment.

the idea of money primes individualism: a reluctance to be involved with others, to depend on others, or to accept demands from others.

Origins This book presents my current understanding of judgment and decision making,

Conflict between an automatic reaction and an intention to control it is common in our lives.

He concludes that stories of success and failure consistently exaggerate the impact of leadership style and management practices on firm outcomes, and thus their message is rarely useful.

His model could explain Anthony’s risk aversion, but it cannot explain Betty’s risk-seeking preference for the gamble, a behavior that is often observed in entrepreneurs and in generals when all their options are bad.

Perhaps the most valuable contribution of the corrective procedures I propose is that they will require you to think about how much you know.