This masterclass, created for the BUILT FOR IMPACT program, translates Daniel Kahneman’s seminal work Thinking, Fast and Slow into a practical framework for high‑performers. It argues that the conscious, deliberative mind (System 2) is not the driver of most daily decisions; instead a fast, automatic System 1 runs about 95 % of behavior, generating impressions, intuitions, and emotional reactions that are later rationalized by System 2. The masterclass explains why System 2 is inherently lazy, how cognitive biases (anchoring, availability, representativeness, confirmation, framing, overconfidence, hindsight, planning fallacy) arise from System 1, and why loss aversion and the two selves (experiencing vs. remembering) shape motivation and change. It distinguishes well‑replicated findings from those weakened by the replication crisis (social priming, simple ego‑depletion model). The content then maps these insights onto the BUILT framework (Break, Upgrade, Imagine, Let‑go, Transcend) and offers concrete tactics: spotting System 1 decisions, designing environments and defaults, pre‑deciding, using checklists, accounting for loss aversion, and balancing the two selves. A concise list of actionable takeaways and a curated further‑study list close the masterclass.
Topics
Core Premise: Two Minds, One Decision Maker
Presents the central claim that the mind we identify with (System 2) is not the one actually making most decisions; System 1 runs the show.
System 2 Laziness: Energy Costs and Ego‑Depletion Caveats
Explains why System 2 is designed to be lazy—glucose consumption, pupil dilation, and the limited availability of effortful thinking—while noting the replication issues around ego‑depletion.
Key Cognitive Biases that Hijack System 1
Enumerates the eight most impactful biases (anchoring, availability, representativeness, confirmation, framing, overconfidence, hindsight, planning fallacy) and how they systematically distort judgment.
Prospect Theory and Loss Aversion: The Hidden Cost of Change
Summarizes prospect theory’s reference‑point framing, the ~2:1 loss‑to‑gain intensity ratio, and the endowment effect, linking them to identity change resistance.
The Experiencing Self vs. Remembering Self and the Peak‑End Rule
Distinguishes the moment‑by‑moment experiencing self from the narrative‑building remembering self, and explains how the peak‑end rule shapes memory.
Scientific Consensus: What Holds Up and What Has Been Retracted
Separates robust findings (dual‑process model, major biases, prospect theory, two‑self distinction) from weakened claims (social priming, simple ego‑depletion model).
Mapping Kahneman’s Insights onto the BUILT Framework (B‑U‑I‑L‑T)
Shows how each BUILT step (Break, Upgrade, Imagine, Let‑go, Transcend) corresponds to System 1/2 dynamics, loss aversion, and self‑modeling.