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Patrick Brown asked this question about Thinking, Fast and Slow:
What are the three most vital takeaways from this book and why are they so important?
Danny In fostering learning, rewards work better than punishments, but due to the regression to the mean, we have an illusion of the reverse effect. -- ver…more In fostering learning, rewards work better than punishments, but due to the regression to the mean, we have an illusion of the reverse effect. -- very important for me, since I have to deal with teaching.

2. Risk-aversion (and loss aversion) leads to bad decision-making, and you should get rid of it (I realized it before, when found that just by switching to high-deductible policy and and making a health savings account instead, I can save a lot of money without any threat to my health)

3. The importance of metrics: to avoid framing effect, it is good to have some fixed metric in mind (say, in a year on average it will make me X bucks poorer/richer), and transfer the input parameters into this system when making a decision. Npower Build(less)
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Thinking, Fast and Slow
by Daniel Kahneman
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