Thinking Fast and Slow: How to Make Better Decisions - [Cognitive Biases #6]

Growth Mindset Psychology: The Science of Self-Improvement

The surprising psychology of rationality, bias, numbers and happiness can improve your decision-making.

Daniel Kahneman's 'Thinking Fast and Slow' explores the interplay between our fast, intuitive thinking (System 1) and our slow, rational thinking (System 2).

Sam discusses various cognitive biases and how our thinking systems cause them such as the anchoring effect, availability heuristic, confirmation bias, and overconfidence bias.

He also covers fundamental theories like prospect theory and the peak-end rule, offering practical insights on fostering happiness and making better life choices. Stay tuned to learn more about how our brains work and how we can use this knowledge for self-improvement.

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Further Reading:

• Thinking Fast and Slow - Daniel Kahneman
• Predictably Irrational - Dan Ariely

Further Listening

Enjoyed this episode? Check out the rest of the Cognitive Ciases series:

1. Ego Blindspots: 9 Cognitive Biases to Avoid - [May 7th]
2. Human Nature vs. Money: Battling Irrationality & Thinking Traps [May 19th]
3. Confirmation Bias and the 7 Sins of Lazy Thinking - [June 4th]
4. Reality Distortion and the 7 Illusions of Perception Impact Everyone - [June 18th]
5. Cognitive Rigidity and How Einstein Overcame the 5 Biases that Keep Us Stuck - [June 19th]
6. [YOU ARE HERE] - Thinking Fast and Slow

Meet Sam

• Free Call - Schedule Link

Growth Mindset Psychology:

Sam Webster explores the psychology of happiness, satisfaction, purpose, and growth through the lens of self-improvement.

• Watch - YouTube (Growth Mindset)
• Website - GrowthMindsetPodcast.com
• Insta - SamJam.zen
• Newsletter - Expansive Thinking

Chapters:

00:00 Understanding Cognitive Biases, comedy and systems of thinking

02:50 Deep Dive into System One and System Two Thinking

04:15 How System 1 and System 2 Work Together

05:40 System 1's Impact on Decision Making

07:18 System 1 and Politics

10:20 The Teenage Brain and System 2 Development

11:24 Cognitive Biases and Their Impact

16:34 The Law of Large Numbers

21:29 Prospect Theory and Risk Assessment

21:46 The Cookie Analogy: Understanding Loss Aversion

22:31 Rationality and Utility Theory in Economics

24:30 Prospect Theory: Perception of Value and Risk

26:06 Probability and Decision Making

28:19 The Experiencing Self vs. The Remembering Self

30:07 The Peak-End Rule and Its Impact on Memory

33:45 Balancing Moment-to-Moment Pleasure and Long-Term Satisfaction

36:56 The Focusing Illusion: What Really Matters

42:33 Final Thoughts and Recommendations

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