Amos Tversky and the Ascent of Behavioral Economics
نویسنده
چکیده
Amos Tversky investigated and explained a wide range of phenomena that lead to anomalous human decisions. His two most significant contributions, both written with Daniel Kahneman, are the decision-making heuristics—representativeness, availability, and anchoring—and prospect theory. Tversky’s concepts have broadly influenced the social sciences. In economics, they gave rise to the burgeoning field of behavioral economics. This field, skeptical of perfect rationality, emphasizes validation of modeling assumptions, integration of micro-level data on decisions (including experimental evidence), and adoption of lessons from psychology. Tversky’s contributions are reviewed, assessed using citation analysis, and placed in historical context. Fertile areas for behavioral economics research are identified.
منابع مشابه
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Together with his long-time colleague Daniel Kahneman, Amos Tversky, provided the intellectual infrastructure for contemporary behavioral law and economics. Prospect theory undermines the Coase Theorem, which is the bedrock of traditional law and economics; and the heuristics and biases research questions the fundamental idea of a rational self-interested decisionmaker, which is also challenged...
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تاریخ انتشار 1998