ModelThinkers - Fast and Slow Thinking

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This could read as the start of an 'unauthorised instruction book of your brain' that you didn't know you needed, but won't be able to live without. It's a foundational model in behavioural economics that will help inform your understanding of cognitive biases, behaviour change and humanity in general. Nobel Prize winner Daniel Kahneman’s mental model of Fast and Slow Thinking underpins behavioural economics by explaining how you live most of

Actionable Takeaways ‘Econs’ and other rational models of humanity are as flawed as we are. Econs was coined by economist Richard Thaler to describe the rationale, logical people who are the basis for traditional economic models. Thaler argues that Kahneman’s work instead poses ‘humans’ who are often illogical, act on intuition over logic and act irrationally. This is a simple distinction that contrasts traditional economics vs behavioural economics, but it is one that can be used to challenge assumptions in other areas also. You aren’t just irrational, you are rationalising. Even when…

ModelThinkers - Fast and Slow Thinking

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