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How strange it is, that a fool or knave, with riches, should be treated with more respect by the world, than a good man, or a wise man in poverty!

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Daniel Kahneman

The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.

Beliefs, Depends, Individuals, Littles, Quality, Stories
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Spend some effort in figuring out why each decision did or did not pan out. Doing that systematically is key: really try to question the way you make decisions, and improve it.

Keys, Choices, Effort, Improve, Make, Systematically

Happiness is determined by factors like your health, your family relationships and friendships, and above all by feeling that you are in control of how you spend your time.

Feelings, Determined, Family Relationship, Relationships, Feeling, Family

Clearly, the decision-making that we rely on in society is fallible. It's highly fallible, and we should know that.

Clearly, Decision, Fallible, Know, Rely, Should

After a crisis we tell ourselves we understand why it happened and maintain the illusion that the world is understandable. In fact, we should accept the world is incomprehensible much of the time.

World, Facts, Illusion, Crisis, Incomprehensible, Understand

Overconfidence is a powerful source of illusions, primarily determined by the quality and coherence of the story that you can construct, not by its validity.

Powerful, Quality, Stories, Construct, Primarily, Source
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