Tversky's and Kahneman's Work

Tversky and Kahneman studied how people make decisions, revealing that our choices are often influenced by mental shortcuts and biases. They showed that we tend to rely on intuitive judgments rather than logical reasoning, which can lead to systematic errors—like overvaluing things we recently saw or undervaluing risks. Their groundbreaking work explains why people sometimes make irrational decisions, especially under uncertainty, and has had a profound impact on economics, psychology, and policy. In essence, they helped us understand the quirks of human judgment and how to improve decision-making processes.