System 1 and System 2 - Season 1/Episode 5

At last! We’re beginning our discussion on the actual biases that impact our behaviour and decision-making abilities. In this episode, we delve into what biases actually are and explore some psychology around how our brains process information. We thought it would be a good idea to start this discussion around biases with explaining Daniel Kahneman’s concept of System 1 and System 2 thinking. To help with unpacking this, we brought in Dr Daniel Crosby, a psychologist and New York Times best-selling author, as our guest. He’s also the host of his own podcast, called Standard Deviations. https://nudgingfinancialbehaviour.podbean.com/e/system-1-and-system-2-episode-5-season-1/ Useful links: Buy the book - Thinking, Fast and Slow by Daniel Kahneman: https://www.takealot.com/thinking-fast-and-slow/PLID19456785 https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555 A great breakdown of the biases that I refer to regularly when lecturing: https://www.youtube.com/watch?v=uqXVAo7dVRU A little more about Dr Daniel Crosby: https://www.standarddeviationspod.com/ https://www.amazon.com/stores/Daniel-Crosby/author/B00O72MW1W?ref=ap_rdr&store_ref=ap_rdr&isDramIntegrated=true&shoppingPortalEnabled=true You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/system-1-and-system-2/  Or watch to the video version of this podcast episode: https://youtu.be/9qa45_juNS4 Special thanks to everyone who has helped put this series together:    Our sponsors: IG Markets South Africa    Producer: Faeron Wheeler of F Creations    Music by: Neil Leachman    Sound recording and mixing: Giovanni Serci of Soundcast Studios    Video and editing: Kyle Wesson Hair and makeup: Ida Webster  Set styling: Michelle Murray of Interiors Etc. Voice over: Sizo Mphti