Thinking, Fast and Slow - Daniel Kahneman

“a sinking feeling”: Marcel Zeelenberg and Rik Pieters, “A Theory of Regret Regulation 1.0,”
Journal of Consumer Psychology 17 (2007): 3–18.
regret to normality: Kahneman and Miller, “Norm Theory.”
habitually taking unreasonable risks: The hitchhiker question was inspired by a famous
example discussed by the legal philosophers Hart and Honoré: “A woman married to a man
who suffers from an ulcerated condition of the stomach might identify eating parsnips as the
cause of his indigestion. The doctor might identify the ulcerated condition as the cause and the
meal as a mere occasion.” Unusual events call for causal explanations and also evoke
counterfactual thoughts, and the two are closely related. The same event can be compared to
either a personal norm or the norm of other people, leading to different counterfactuals,
different causal attributions, and different emotions (regret or blame): Herbert L. A. Hart and
Tony Honoré, Causation in the Law (New York: Oxford University Press, 1985), 33.
remarkably uniform: Daniel Kahneman and Amos Tversky, “The Simulation Heuristic,” in
Judgment Under Uncertainty: Heuristics and Biases, ed. Daniel Kahneman, Paul Slovic, and
Amos Tversky (New York: Cambridge University Press, 1982), 160–73.
applies to blame: Janet Landman, “Regret and Elation Following Action and Inaction:
Affective Responses to Positive Versus Negative Outcomes,” Personality and Social
Psychology Bulletin 13 (1987): 524–36. Faith Gleicher et al., “The Role of Counterfactual
Thinking in Judgment of Affect,” Personality and Social Psychology Bulletin 16 (1990): 284–
95.
actions that deviate from the default: Dale T. Miller and Brian R. Taylor, “Counterfactual
Thought, Regret, and Superstition: How to Avoid Kicking Yourself,” in What Might Have
Been: The Social Psychology of Counterfactual Thinking, ed. Neal J. Roese and James M.
Olson (Hillsdale, NJ: Erlbaum, 1995), 305–31.
produce blame and regret: Marcel Zeelenberg, Kees van den Bos, Eric van Dijk, and Rik
Pieters, “The Inaction Effect in the Psychology of Regret,” Journal of Personality and Social
Psychology 82 (2002): 314–27.
brand names over generics: Itamar Simonson, “The Influence of Anticipating Regret and
Responsibility on Purchase Decisions,” Journal of Consumer Research 19 (1992): 105–18.
clean up their portfolios: Lilian Ng and Qinghai Wang, “Institutional Trading and the Turn-ofthe-Year
Effect,” Journal of Financial Economics 74 (2004): 343–66.
loss averse for aspects of your life: Tversky and Kahneman, “Loss Aversion in Riskless
Choice.” Eric J. Johnson, Simon Gächter, and Andreas Herrmann, “Exploring the Nature of
Loss Aversion,” Centre for Decision Research and Experimental Economics, University of
Nottingham, Discussion Paper Series, 2006. Edward J. McCaffery, Daniel Kahneman, and
Matthew L. Spitzer, “Framing the Jury: Cognitive Perspectives on Pain and Suffering,”
Virginia Law Review 81 (1995): 1341–420.