System 1 & System 2: Why Do We Make Irrational Decisions (Cognitive Biases In A Nutshell)

<div><div><a target="_blank" rel="nofollow noopener noreferrer" href="https://docs.google.com/document/d/e/2PACX-1vSmkG0dAqYL1rYkw2OD6RzT9bnFTLlYOxiviOSIPtEXlSXIdqbviJVbLzLyIFIpJ0m1AJqFZBjUlilQ/pub">05:53 mins, "</a><a target="_blank" rel="nofollow noopener noreferrer" href="https://docs.google.com/document/d/e/2PACX-1vSmkG0dAqYL1rYkw2OD6RzT9bnFTLlYOxiviOSIPtEXlSXIdqbviJVbLzLyIFIpJ0m1AJqFZBjUlilQ/pub"></a><a target="_blank" rel="nofollow noopener noreferrer" href="https://docs.google.com/document/d/e/2PACX-1vSmkG0dAqYL1rYkw2OD6RzT9bnFTLlYOxiviOSIPtEXlSXIdqbviJVbLzLyIFIpJ0m1AJqFZBjUlilQ/pub"></a><a target="_blank" rel="nofollow noopener noreferrer" href="https://docs.google.com/document/d/e/2PACX-1vSmkG0dAqYL1rYkw2OD6RzT9bnFTLlYOxiviOSIPtEXlSXIdqbviJVbLzLyIFIpJ0m1AJqFZBjUlilQ/pub">System 1 & System 2: Why Do We Make Irrational Decisions (Cognitive Biases In A Nutshell)" </a><a target="_blank" rel="nofollow noopener noreferrer" href="https://docs.google.com/document/d/e/2PACX-1vSmkG0dAqYL1rYkw2OD6RzT9bnFTLlYOxiviOSIPtEXlSXIdqbviJVbLzLyIFIpJ0m1AJqFZBjUlilQ/pub">Transcript </a> In his bestselling book “ Thinking: Fast and Slow ” the renowned psychologist and winner of the Nobel Prize in Economics Daniel Kahneman explains that we apprehend the world employing two fundamentally different modes of thought: System 1 and System 2. System 1 is fast, automatic and involuntary. It is an unconscious process that we are not in control of. System 2, on the other hand, is the deliberate, logical part of our minds. It is an expert at solving problems but it is slow and requires a lot of energy. Usually System 1 runs automatically and System 2 is in a comfortable low-effort mode in the background. The problem comes when we allow our fast, intuitive system to make decisions that we really should pass over to our slow, logical system. In our new series “ Cognitive biases in a nutshell ” we are going to explore different systematic errors ( cognitive biases ) that we all make in our everyday life without realizing it. If you want to be aware of your own biases and improve your judgments and decisions, stay tuned. Watch our video on the Anchoring Bias here: <a target="_blank" rel="nofollow noopener noreferrer" href="https://www.youtube.com/watch?v=5k6U4roEnbE">https://www.youtube.com/watch?v=5k6U4roEnbE</a> If you want to see more from us SUBSCRIBE to our channel: <a target="_blank" rel="nofollow noopener noreferrer" href="http://bit.ly/2oBn4bL">http://bit.ly/2oBn4bL</a> We put new video every month! In this video: 1. How rational are we really? 0:00 2. Cognitive biases in a nutshell – our new series 0:55 3. Daniel Kahneman: System 1 and System 2 thinking 1:14 4. Useful fictions 1:44 5. System 1 – our intuitive, fast and automatic thinking 2:49 6. System 2 – the deliberate, logical part of your mind 4:07 7. So where do all those biases emerge from? 4:54 FACEBOOK: <a target="_blank" rel="nofollow noopener noreferrer" href="https://www.facebook.com/luscid/">https://www.facebook.com/luscid/</a> TWITTER: <a target="_blank" rel="nofollow noopener noreferrer" href="https://twitter.com/LuscidChannel">https://twitter.com/LuscidChannel</a> Research and script: Irina Georgieva Art, editing and narration: Daniel Stamenov Music: Acoustic/Folk Instrumental by Hyde - Free Instrumentals <a target="_blank" rel="nofollow noopener noreferrer" href="https://soundcloud.com/davidhydemusic">https://soundcloud.com/davidhydemusic</a> Creative Commons — Attribution 3.0 Unported— CC BY 3.0 <a target="_blank" rel="nofollow noopener noreferrer" href="http://creativecommons.org/licenses/b..">http://creativecommons.org/licenses/b..</a>. Music provided by Audio Library <a target="_blank" rel="nofollow noopener noreferrer" href="https://youtu.be/YKdXVnaHfo8">https://youtu.be/YKdXVnaHfo8</a> Further reading: [1] Thinking: Fast and Slow by Daniel Kahneman <a target="_blank" rel="nofollow noopener noreferrer" href="https://www.ttu.ee/public/m/mart-murdvee/EconPsy/4/Kahneman_2011_Thinking_Fast_and_Slow.pdf">https://www.ttu.ee/public/m/mart-murdvee/EconPsy/4/Kahneman_2011_Thinking_Fast_and_Slow.pdf</a> [2] A machine for jumping to conclusions, Daniel Kahneman interviewed <a target="_blank" rel="nofollow noopener noreferrer" href="http://www.apa.org/monitor/2012/02/conclusions.aspx">http://www.apa.org/monitor/2012/02/conclusions.aspx</a> [3] In two minds: dual-process accounts of reasoning, Jonathan St. B.T. Evans <a target="_blank" rel="nofollow noopener noreferrer" href="http://faculty.weber.edu/eamsel/Classes/Methods%20(3610)/Old%20Sections/Fall%202010/Fall%202010%20Project/Evans%20(2003).pdf">http://faculty.weber.edu/eamsel/Classes/Methods%20(3610)/Old%20Sections/Fall%202010/Fall%202010%20Pr...</a></div></div>