Daniel Kahneman, a Nobel Prize-winning psychologist, passed away last week. Here are some of the lessons we can learn from his research and his career.
Daniel Kahneman's work with Amos Tversky showed the importance of context and expectations in decision-making.
As a psychologist who studies decision-making, I have been very inspired by Daniel Kahneman. I regret that I never got the opportunity to meet him. But despite the fact that we never met personally, he has taught me many valuable lessons. Here are some of them.Kahneman and Tversky’s work centered on the ways in which people are suboptimal in their judgment and decision-making. People make judgments about others based on stereotypes, rather than statistics—an example of the “.
Although this discovery feels intuitive to us, most economic theory at that point assumed that people based their decisions only on the ultimate outcomes of the choice at hand. It was believed that context didn’t, and shouldn’t, matter. This susceptibility to context makes human decision-making extremely variable and fascinating. A decision that seems odd to me may make perfect sense to a different person who has different experiences and expectations. Kahneman’s groundbreaking work has taught me to be more accepting of others’ choices, and it has inspired me to launch a research program that focuses on understanding the factors underlying individual differences in decision-making.
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