read: thinking, fast and slow

We have two cognitive systems, system 1 and 2.

System 1 works easily and automatically

System 2 takes more effort and operates methodically

These systems interact continually.

When walking use System 1 but can also think problems use System 2. If switch to running, System 1 is used more and System 2 is less and harder to think problems 

System 1

1. Seek causes in random events

2. Hindsight bias

3. Loss aversion and endowment effect

4. Anchoring

People who are cognitively busy are more likely to make selfish choices, use sexist language and make superficial judgement

Experience self lives the life and remembering self evaluates these experiences

System 1 intuition in experts. Only works in fields where challenges don't vary greatly, luck doesn't determine success and no gap between action and feedback e.g. stock.