Thinking (about Procurement) Fast and Slow with Daniel Kahneman (Part 2)

Our last article introduced Daniel Kahneman’s brilliant “Thinking Fast and Slow” book, which explains how our thought processes work. He is a psychologist, but won the Nobel Prize for economics as his work explained how humans really think and behave, which turned out to be quite differently to how that was treated in classical economic theory.

He introduces the concept of System 1 and System 2 thinking, where System 1 is intuitive and effortless, whilst System 2 is more considered and therefore harder work for us! That means our brain will do everything it can to stick with a System 1 approach, which leads it to seek all sorts of shortcuts in the way we think day by day, minute by minute. We don’t have a lot of conscious ability to change that, and this phenomenon has a number of consequences and implications that affect every aspect of our lives, including how we work in our jobs, whether procurement or any other field.

So today we’ll take a look at one of the key areas of research and insight for Kahneman, that of Priming, and priming effects. We’ll highlight just some of the implications for procurement professionals.

The rest of this PRO research brief can be found on Spend Matters PRO. If you’d like to become a Spend Matters PRO member, please subscribe. If you’re not ready to subscribe or wonder why you should, we’ve answered some FAQs here or you can email a Spend Matters team member directly. If you’re not into paying for content, we get that too. Thanks for reading!

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