This document summarizes key points from Daniel Kahneman's book "Thinking, Fast and Slow". It discusses the two systems of thought - system 1 thinks fast and automatically using mental shortcuts while system 2 thinks slowly and deliberately. It describes cognitive biases like anchoring, overconfidence and regression to the mean that can cause irrational and incorrect judgments. It suggests applying this knowledge can help with design, workplaces and everyday life by recognizing biases and avoiding incorrect intuitions.

1. Thinking, Fast and Slow
By Daniel Kahneman
Amanda Bentley
How To Apply the Book to Design, the Workplace, and Everyday Life

2. Human Irrationality
People like to think their intuition is correct
or they are otherwise able to logically
analyze every situation
Thinking, Fast and Slow | Amanda Bentley

3. When Intuition Fails
People tend to use shortcuts and rely on
instinct when faced with a problem.
Heuristics = mental shortcuts
Thinking, Fast and Slow | Amanda BentleyThinking, Fast and Slow | Amanda Bentley

4. System 1
This is the system that thinks fast.
2 x 2 = ?
Thinking, Fast and Slow | Amanda Bentley

5. System 2
This is the system that thinks slowly.
37 x 84 = ?
Thinking, Fast and Slow | Amanda Bentley

6. Judgments
We jump to conclusions to save time and
effort.
This is only efficient when the conclusion is
likely correct and the cost of an
occasional mistake is acceptable.
Thinking, Fast and Slow | Amanda Bentley

7. How Your Mind Works, with Daniel Kahneman
Thinking, Fast and Slow | Amanda Bentley

8. Biases
Prejudice in favor or against one thing,
person, or group compared with another,
usually in a way considered to be unfair
Thinking, Fast and Slow | Amanda Bentley

9. Anchors
Occurs when people consider a particular
value for an unknown quantity before
estimating that quantity.
Thinking, Fast and Slow | Amanda Bentley

10. Regression to the Mean
When poor performance is followed by
improvement, and good performance is
followed by deterioration.
Thinking, Fast and Slow | Amanda Bentley

11. Overconfidence
The sense-making System 1 makes us see
the world as more tidy, simple, predictable,
and coherent than it really is.
So we think that we can predict the future.
Thinking, Fast and Slow | Amanda Bentley

12. The Illusion of Validity
Declarations of high confidence tell you that
an individual has constructed a coherent
story in his or her mind, not necessarily that
the story is true
Thinking, Fast and Slow | Amanda Bentley

13. Intuition vs. Formulas
Experts may be inferior because they try to
be clever, think outside the box, and
consider complex combinations of
features.
This actually reduces validity.
Thinking, Fast and Slow | Amanda Bentley

14. When Can We Trust Intuition?
Confidence does not imply truth.
System 1 suppresses doubt and evokes
ideas that are compatible with the current
dominant story.
Thinking, Fast and Slow | Amanda Bentley

15. Thinking About Life
Affective forecasting is the forecast of one's
personal state in the future. An error
happens when you think statistics don't
apply to you
Thinking, Fast and Slow | Amanda Bentley

16. Benefits of Recognizing Biases
Better design.
More efficient workplaces.
Happiness in everyday life.
Thinking, Fast and Slow | Amanda Bentley

17. Applying the Knowledge
Design: Making something that doesn’t just
look nice, but is actually beneficial.
The Workplace: Anchoring in negotiations
and regression to the mean in daily work.
Everyday: Avoiding incorrect judgments of
others.
Thinking, Fast and Slow | Amanda Bentley

18. Thank You.
Thinking, Fast and Slow | Amanda Bentley