Thinking - Fast and Slow
Daniel Kahneman
Contributed by Larisa Brooke
Chapter 25

This chapter marks the introduction of Part 4 of the book. Part 4 is primarily centered on choices and how they relate to cognitive intuition. Kahneman goes on to share his encounter with psychologist and economists whom he owes his several approaches to System 1. Accordingly, psychologists focus on System 1 when evaluating people’s minds while economists consider System 2. Kahneman expounds the theory of Bernoulli Fechner and draws to the reader’s attention to some critical errors in Bernoulli’s reasoning. Kahneman also sheds light on the Expected Utility, which is Fechner’s major milestone in his study of expectations.


The chapter highlights significant concerns regarding probability and certainty. The extent to which cognitive intuition dominates one’s reasoning depends on the confidence of an outcome. As such, most people tend to follow that which is specific and is known to happen for sure, rather than uncertain events. Kahneman elucidates the critical flaws found in Bernoulli’s theory, and as he observes, they delve much within what it fails to address rather than what it acknowledges.

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