Daniel Kahneman and Amos Tversky

Daniel Kahneman and Amos Tversky were psychologists who revolutionized our understanding of human decision-making. They studied how people often rely on mental shortcuts, called heuristics, which can lead to biases and errors. Their work revealed that our judgments are influenced by probabilistic reasoning, emotions, and framing effects, rather than purely logical analysis. This research has significant implications for economics, medicine, and public policy, highlighting the unpredictability of human choices. Kahneman, in particular, was awarded the Nobel Prize in Economic Sciences for integrating psychological insights into economic theory, emphasizing that humans are not always rational in their decisions.