
First published in 1992 and less famous than it deserves to be. Sutherland was a psychologist at Sussex who synthesized experimental evidence from social psychology, cognitive science, and psychiatry into a single readable volume. His treatment of in-group bias, obedience research, and medical decision-making fills gaps that the Kahneman-focused literature tends to leave.
Chosen by shared topics, the entries that hold them, and the people who recommended both.
Why people mistake luck for skill, above all in markets.
“Fooled by Randomness is a serious, intellectually sophisticated book, well worth reading carefully. At times, the book is condescending. Nevertheless, there are some great insights.” — Barton Biggs
Source: Biggs on a sophisticated book worth reading carefully
Recommended by: Barton Biggs, Michael Mauboussin and 11 others
Tavris and Aronson focus on what happens after a bias fires: the self-justification, narrative revision, and escalating commitment that follow. Cognitive dissonance, they argue, is not a personality flaw but a universal mechanism, and understanding it explains police misconduct, political tribalism, and therapy failures in a single framework.
Recommended by: Mohnish Pabrai, Nat Eliason and 2 others
Kahneman died 27 March 2024; this was his last book.
Speeches making the case for a latticework of mental models from many fields.
“…books I've recommended, highlighted to death, or forced on friends.” — Andrew Wilkinson
Source: Andrew Wilkinson's Bookshelf, neverenough.com
Recommended by: Andrew Wilkinson, Charlie Munger and 26 others
Experiments showing most cheating is many people cheating a little.
Recommended by: Mohnish Pabrai
Beyond a point, more options make people less likely to choose and less satisfied.
“It is almost ten years since Barry Schwartz published his popular psychology book "The Paradox of Choice".” — Nick Sleep
Source: Nomad Investment Partnership, Annual Letter for the period ended December 31st, 2013, p. 216
Recommended by: Nat Eliason, Nick Sleep and 1 other
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