11. TWO THINKING SYSTEMS
System 1 runs the
show by default
System 1:
Fast, effortless, pattern
matching to norms
System 2
Slow, effortful, logical
We need to consciously
activate our system 2
Anchoring
Pay this much for an item that they didn’t know the value for yes/no
Then, had auction for items; ppl with higher numbers bid 60-120% higher than low numbers
Even after laughing about how random the first question was
Biases are how we can get through the day
walk, talk, drive a car without conscious thought
The learning loop
People are terrible predictors of their own future behavior
Gym memberships