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We are endowed with two systems that help us make decisions.
System 1 is called quick thinking and it is the most commonly used.
System 2 is called slow thinking and it uses reasoning, requires a much greater effort in making decisions.
Most of our time is governed by the first system, but sometimes the decisions we take must be very fast and very often rely on intuition. Without realizing it, the first system often suggests certain feelings and intentions of the second system, which takes over without changing anything.
Slow thinking acts when the fast thinking is not ready to give an immediate response.
For the first system, quick thinking, is always active, we are exposed to mistakes.
One of the flaws of human thought represents the self confidence. Entrepreneurs, for example, are convinced that the business they start will be a great success. Even though all statistics may show otherwise.
Another error of human thinking is a demonstrated tendency to judge after the idea quickly comes to mind, without taking into account further research. Or a tendency to believe everything we are often repeated. Therefore ads are very successful.
As humans, we have a tendency to choose safer and reduce any loss. Basically we hate risk. And we often enjoy the same things in a different manner.
If we get to be aware of the weaknesses that we have, then we can easily identify errors in thought and will weigh more when we have to make a decision.