The deprival super-reaction syndrome of man helps cause much ruin as people’s cognition is distorted as a result of their suffering losses and near misses. —CHARLIE MUNGER, STANFORD LAW SCHOOL, 1998 Your brain doesn’t naturally know how to think the way Zeckhauser knows how to play bridge. For example, people do not react symmetrically to loss and gain. Well, maybe a great bridge player like Zeckhauser does, but that’s a trained response. —CHARLIE MUNGER, HARVARD UNIVERSITY, 1995 I mean people are really crazy about minor decrements down. … Huge insanities can come from just subconsciously
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