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Dec 29, 2018 21:29:26

Thinking Fast and Slow (Cliff Notes - 1)

by @kp PATRON | 459 words | 🐣 | 35💌


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I have been gifted a new book for the holidays that I am currently excited about. It was on my list for a long time and finally it has made it to my hands this week. It is the widely popular work called "Thinking Fast and Slow" by Daniel Kanheman.

I figured I'll just quickly document (apologize for errors!) a few key insights and takeaways from this really interesting book.

1. Resemblance plays a key role in predictions. For a large part, this pattern recognition is helpful. When you see a ball traveling towards your face, you naturally duck to avoid the hit. When we have to make difficult predictions however, our mind still searches for a spontaneous answer and presents us with something. It comes from either an expert intuition or some type of a heuristic.

Heuristic = rule of thumb used when solving a problem (pertaining to a trial-and-error method of problem solving used when an algorithmic approach is impractical)

2. The expert intuition is developed over time by practicing a certain skill or being familiar with a certain decision-making process for years. Lebron James responds much more quickly and accurately on where to shoot a jumper from during a tense buzzer beater play than any one of us. This information is automatic for him because he has been doing this for years and it becomes second nature to it. (expert intuition) 

3. We rely a bit too heavily on heuristics like above (resemblance heuristic) when we have to make difficult predictions with incomplete data. Another example is the "availability" heuristic where we remember things that have happened recently more vividly than others. We tend to answer difficult and even often unrelated questions with this working memory. The author wrote in detail about 20 such biases or heuristics that will further be discussed in a future chapter. 

When it first came out, this original work from the author challenged the dogmatic assumption that human mind is rational and logical.

4. The spontaneous search for an "intuitive" solution is called System 1 thinking. When this sometimes fails -- neither an expert solution nor an heuristic answer comes to mind, in such cases, we often find ourselves switching to a slower, more deliberate and effortful form of thinking. This is called System 2 thinking.

5. As recent research suggests, the intuitive System 1 is more influential than your experience tells you and it is the secret author of many of your judgements and choices you make. This is the premise on which the book is written. 

That's all I have for today. Thanks for reading. If you've already read this book, please let me know in the comments below and I'd love to pick your brain to collect some insights that you have captured. 

  • 1

    @kp Thanks for taking the time to share your notes from this book. I have it, and I have started to read it a couple times and find it pretty dense. It reminds me of "college reading" very textbook-like. Maybe if you get far enough into the book there are practical action items offered, but I never made it that far. After you are finished with the book I would be interested to hear your takeaways in terms of which actions you will take based on the information you learned.

    Brandon Wilson avatar Brandon Wilson | Dec 30, 2018 17:31:31
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      @brandonwilson Thanks Brandon. Fully agree on the sentiment that it's a bit dry/dense. It was hard to concentrate for me so to counter that, I am only reading 10 pages at a time to fully absorb and reflect.

      KP avatar KP | Jan 01, 2019 05:38:46
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      @brandonwilson Also, yes once I am done reading, I would love to share my take aways and jam with you on some key mutual findings.

      KP avatar KP | Jan 01, 2019 05:39:58
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    @kp doing book reviews on 200 words post is a great idea! Gonna try that too ;)

    Jason Leow avatar Jason Leow | Dec 30, 2018 15:22:05
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      @jasonleow thank you -- looking forward to it.

      KP avatar KP | Jan 01, 2019 05:40:44
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    @kp that's a great book! I read it a couple of months ago - your post refreshed a few key concepts! I feel I need to come back to it and make notes because there is just so much information that it's hard to remember it all.

    Am Ki avatar Am Ki | Dec 30, 2018 00:36:03
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      @jmaga Yep it's a treasure trove of insights.

      KP avatar KP | Jan 01, 2019 05:43:50
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    @kp I bought it but i still haven't finished my old book :) but this one is surely next for 2019 :)

    Berkan avatar Berkan | Dec 29, 2018 22:43:54
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