![]() ![]() ![]() ![]() For instance, rational thinkers would not be subject to reversing their preferences based on the words in which the choice is framed, but real people are. Old-school economists have held that the test of rational thinking is whether a person’s beliefs and preferences are internally consistent. Rather, says Kahneman, they “are not well described by the rational-agent model.” Although a psychologist, he was awarded the Nobel Prize in Economic Sciences precisely because his research challenges traditional economic theory. ![]() This is not to say that humans are irrational. In Thinking, Fast and Slow, Kahneman reveals what he has learned as a result of his Nobel Prize–winning research in judgment and decision making: human beings (and that includes you and me) are not the rational agents economists and decision theorists have traditionally assumed. March 20, 2012-How many of us are really open to the possibility of shattering our cherished biases and illusions, especially those that support the trust we maintain toward our own mind? Well, don't read Daniel Kahneman's latest book unless that is precisely what you are prepared to do. Daniel Kahneman: Unveling the Two-Faced Brainĭaniel Kahneman. ![]()
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