Psychologists at the Gate: A Review of Daniel Kahneman's <em>Thinking, Fast and Slow</em>

Abstract The publication of Daniel Kahneman's book, Thinking, Fast and Slow, is a major intellectual event. The book summarizes, but also integrates, the research that Kahneman has done over the past forty years, beginning with his path-breaking work with the late Amos Tversky. The broad theme of this research is that human beings are intuitive thinkers and that human intuition is imperfect, with the result that judgments and choices often deviate substantially from the predictions of normative statistical and economic models. In this review, I discuss some broad ideas and themes of the book, describe some economic applications, and suggest future directions for research that the book points to, especially in decision theory. (JEL A12, D03, D80, D87)

KEYWORDS

SHARE & LIKE

COMMENTS

ABOUT THE AUTHOR

Journal of Economic Literature

The Journal of Economic Literature is a peer-reviewed academic journal on economy published by the American Economic Association. It was established in 1963 as the Journal of Economic Abstracts. As a review journal, it mainly features essays and reviews of recent economic theories (as opposed to the latest research). Its current editor in chief is Steven Durlauf.

0 Following 3 Fans 0 Projects 16 Articles

SIMILAR ARTICLES

Abstract This essay will discuss the criticisms of the economic approach to markets offered by Michael Sandel’s What Money Can’t Buy. After review

Read More

Abstract This essay will discuss the criticisms of the economic approach to markets offered by Michael Sandel’s What Money Can’t Buy. After review

Read More

Abstract The empirical literature on economic growth and development has moved from the study of proximate determinants to the analysis of ever deeper

Read More

Abstract The empirical literature on economic growth and development has moved from the study of proximate determinants to the analysis of ever deeper

Read More

Abstract Home bias is a perennial feature of international capital markets. We review various explanations of this puzzling phenomenon highlighting re

Read More

Abstract Home bias is a perennial feature of international capital markets. We review various explanations of this puzzling phenomenon highlighting re

Read More

Abstract The purpose of this essay is to review the books Why Nations Fail by Daron Acemoglu and James Robinson, and Pillars of Prosperity by Timothy

Read More

Abstract The purpose of this essay is to review the books Why Nations Fail by Daron Acemoglu and James Robinson, and Pillars of Prosperity by Timothy

Read More

Abstract We review theories of race discrimination in the labor market. Taste-based models can generate wage and unemployment duration differentials w

Read More

Abstract We review theories of race discrimination in the labor market. Taste-based models can generate wage and unemployment duration differentials w

Read More