EXPLAINING GULLIBILITY Gullibility occurs because we have evolved to deal with information using two fundamentally different systems, according to Nobel Prize winning psychologist Daniel Kahneman. System 1 thinking is fast, automatic, intuitive, uncritical and promotes accepting anecdotal and personal information as true. This was a useful and adaptive processing strategy in our ancestral environment of small, face-to-face groups, where trust was based on life-long relationships. However, this kind of thinking can be dangerous in the anonymous online world. CW8888: Hmm ... Do "bei kampings" know the difference between small group face-to-face talking session and broadcasting seminars? System 2 thinking is a much more recent human achievement; it is slow, analytical, rational and effortful, and leads to the thorough evaluation of incoming information. While all humans use both intuitive and analytic thinking, system 2 thinking is the method of science, and is the best available antidote to gullibility. So, education tends to reduce gullibility and those who receive scientific training in critical, sceptical thinking also tend to be less gullible and less easily manipulated. Differences in trust can also influence gullibility. This may be related to early childhood experiences, with the idea that trust in infancy sets the stage for a lifelong expectation the world will be a good and pleasant place to live.
I am 61 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and retired @ 60 from full-time job as employee.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 2nd year uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Last updated: 3 Sep 2017
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