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Same as Ever
Morgan HOUSEL A Guide to What Never Changes Reading Morgan Housel’s The Psychology of Money was enriching and his point of view on many issues make a difference. Maybe he is not bringing new, exceptional ideas or shed light on ambiguous issues, but the way he presents the facts and ubiquitous concepts is rare. He explains the challenging subjects simply and that deserves a huge credit. Therefore, I was looking forward his next book: Same as Ever. It is finally published ten days ago, on November 7th, and as soon as I got my copy, reading it was a sheer pleasure. Today, I will share my notes and comments with…
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Paranın Psikolojisi
Morgan HOUSEL Servet, Açgözlülülük ve Mutluluk Üzerine Sonsuza Dek Değişmeyecek Dersler Ekonomi ve finans dünyası söz konusu olduğunda işin hesap kitaba dayanan teknik yönleri kadar insan davranışlarını ve psikolojik unsurları da mutlaka dikkate almak gerekir. Bu konuda da Nassim N. Taleb, Richard Thaler, Amos Tversky ve Daniel Kahneman ilk aklıma gelen isimler. Kesinlikle notlar alarak okunması gereken çalışmaları var. Her ne kadar bu alandaki Türkçe yayınlar henüz kavramsal derinliğe ayak uyduramamış olsa da zamanla burada da gelişim olacağına inanıyorum. İngilizce versiyonlar üzerinden notlarım ve Türkçe açıklamalar belki genel bir fikir verebilir. Thinking, Fast and SlowNoise Mesela Kahneman’ın “Hızlı ve Yavaş Düşünme” adıyla Türkçeye çevrilen çalışması bence daha başlık seçiminden sorunlu.…
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Noise
A Flaw in Human Judgment D. KAHNEMAN, O. SIBONY, C.R. SUNSTEIN As an economist, whose focus on macroeconomics and finance, I do make plenty of decisions everyday. Some of those are crucial and some are routine, but probably they all consist of bias and noise. Without doubt minimising those errors is a prerequisite for anyone who pursuit success and happiness. Although it is a challenging and daunting task, I believe that it is the path to go. When it comes to the book, I was totally impressed with Daniel Kahneman’s (and Amos Tversky’s) pioneering contributions to behavioural economics, and highly benefitted from his previous best-selling book, Thinking, Fast and Slow.…
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Thinking, Fast and Slow
How do we make decisions? Daniel KAHNEMAN [1] When Daniel Kahneman and Vernon L. Smith had won the Nobel Prize in Economics, in 2002, I was impressed with their point of view and contribution. I was a fresh graduate at those times and had strict doubts about the rationality principle of humans as actors and decision makers in the economy related areas. Kahneman and his colleagues have integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty. Years later I have re-read Kahneman’s this work in a “Bestseller” form and all I can say is that; “It is enlightening”. The book expresses how and…