Readers may be familiar with Daniel Kahneman’s 2011 best selling book Thinking, Fast and Slow. The book synthesizes for a popular audience the 35 years of research in human cognition and behavior that earned him a Nobel Prize in economics in 2002. Kahneman, himself a psychologist, offers singular insight into human cognitive processes. His work has profound implications for all fields of decision-making, not the least of which is the practice of law, and more particularly the resolution of disputes.
The book identifies almost two-dozen "cognitive biases" errors of reasoning, of which we are generally unaware and which distort our judgments and lead to objectively irrational choices. Kahneman’s fundamental point which he makes convincingly through entertaining accounts of his research findings is that we (even seasoned, highly capable lawyers) are prone to errors in judgment because most decisions are made through a "fast" thought process of associative, intuitive reactions rather than an objectively formulated "slow" mode of thinking.
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