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Habitual spending – The daily blog of behavioral and cognitive economics

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Habitual spending – The daily blog of behavioral and cognitive economics

The Autopilot Spender

In 2011, Daniel Kahneman published a synthesis of decades of cognitive research that fundamentally reframed how psychologists and economists think about human decision-making. His central insight was not that people are irrational — it is that they operate via two distinct cognitive systems with fundamentally different operating principles, and the fast system almost always wins. System 1 is automatic, effortless, and associative….[READ]

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