Book Summary: The Undoing Project Summary Michael Lewis

The Undoing Project Book Summary

1. Fat or misshapen sports players were more likely to be undervalued;

2. Handsome, fit players were more likely to be overvalued.

3. Sports players’ nickname affects how people perceive them.

4. People would undervalue a player nicknamed “Manboobs”

5. People favour players who are like them in personality.

6. Coaches would like a certain player more if he reminds him of his younger self

7. People overvalue players who physically look like successful players

8. People overvalued the basketball players they own

9. So much conventional wisdom is bullshit, not just in sports but in the world as well

10. The big choices we make in life are practically random, the small choices probably tell us more about who we are

11. Which field we go into may depend on which school teacher we met in high school

12. Who we marry may depend on who happens to be around at the right time of life

13. When people make decisions, they are also making judgments about similarity, between some object in the real world and what they ideally want.

14. They make these judgments by, in effect, counting up the features they notice.

15. The noticeability of features can be manipulated by the way they are highlighted, the sense of how similar two things are might also be manipulated.

16. “intense mental activity hinders perception.”

17. Emotional arousal & mental effort altered the size of the pupil

18. The most effective way to teach people longer strings of information was to feed the information into their minds in smaller chunks.

19. People seemed to believe that if a flipped coin landed on heads a few times in a row it was more likely, on the next flip, to land on tails—as if the coin itself could even things out.

20. Human judgment was distorted by . . . the memorable.

21. “There is much evidence showing that, once an uncertain situation has been perceived or interpreted in a particular fashion, it is quite difficult to view it in any other way.

22. Those who cannot remember the past are condemned to repeat it. What people remember about the past, they suggested, is likely to warp their judgment of the future.

23. if you are asked to do anything—go to a party, give a speech, lift a finger—you should never answer right away, even if you are sure that you want to do it. Wait a day, and you would be surprise that you would change your mind

24. People predict by making up stories

25. People predict very little and explain everything

26. People live under uncertainty whether they like it or not

27. People accept any explanation as long as it fits the facts

28. Whenever you want to leave any gathering, just get up and leave. Just start walking and you’ll be surprised how creative you will become and how fast you’ll find the words for your excuse.

29. It is amazing how dull history books are, given how much of what’s in them must be invented

30. Like other human beings, historians were prone to the cognitive biases

31. Just because the patient is better after the doctor treated him doesn’t mean he got better because the doctor treated him

32. The anticipation of regret affects decisions, along with the anticipation of other consequences.

33. When they made decisions, people did not seek to maximize utility. They sought to minimize regret.

34. Reality is a cloud of possibility, not a point.”

35. The brain is limited. There are gaps in our attention. The mind contrives to make those gaps invisible to us.

36. We think we know things we don’t. We think we are safe when we are not.

37. It’s not that people think they are perfect. No, no…. They can make mistakes. It’s that they don’t appreciate the extent to which they are fallible.

38. ‘I’ve had three or four drinks. I might be 5 percent off my game.’ No! You are actually 30 percent off your game.

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