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It is useful to remember… that neglecting valid stereotypes inevitably results in suboptimal judgments.

…rewards for improved performance work better than punishment of mistakes.

…there are few circumstances under which it is a good idea to substitute judgment for a formula.

Decision makers need a realistic assessment of the costs and benefits of a proposal before making the final decision to approve it.

One of the benefits of an optimistic temperament is that it encourages persistence in the face of obstacles. But persistence can be costly.

…the financial benefits of self-employment are mediocre: given the same qualifications, people achieve higher average returns by selling their skills to employers than by setting out on their own.

…the outcome of a start-up depends as much on the achievements of its competitors and on changes in the market as on its own efforts.

Loss aversion refers to the relative strength of two motives: we are driven more strongly to avoid losses than to achieve gains.

If you are set to look for it, the asymmetric intensity of the motives to avoid losses and to achieve gains shows up almost everywhere.

…our brains are not designed to reward generosity as reliably as they punish meanness.