“Most people hate changing their mind.

But I like to change my mind.

It means I’ve learned something.”

I came across this statement by the late Daniel Kahneman in a recent Wall Street Journal article written by Jason Zweig.***

Zweig writes that “Kahneman was one of the world’s most influential thinkers—a psychologist at Princeton University, winner of the Nobel Prize in economics and author of the international blockbuster Thinking, Fast and Slow, first published in 2011.”

>>> The Thinking and Decision-Making Process

Examining the thinking process, Zweig explains that “[One] of Kahneman’s principles was the importance of taking what he called the outside view: Instead of regarding each decision as a special case, you should instead consider it as a member of a class of similar situations. Gather data on comparable examples from that reference class, then consider why your particular case might have better or worse prospects.”

*** The Wall Street Journal, March 14, 2025. The article explores the decision Mr. Kahneman made to end his life at the age of 90.

______ Curated by Dennis Mellersh, Business Media Writer, Journalist & Editor