Browsing: Thinking Fast And Slow

Nobel Prize winner, Daniel Kahneman, who pioneered theories in behavioral economics that heavily influenced the discipline, has died at age 90, his employer confirmed. Kahneman, who wrote the best-selling book “Thinking, Fast and Slow,” argued against the notion that people’s behavior is rooted in a rational decision-making process – rather than it is often based […]

Imagine that tomorrow I were to show you a newspaper article describing a deadly wildfire. Do you think you’d be more upset upon reading that 10,000 people died than if you read that five people died? This scenario makes people engage in affective forecasting—predicting their future emotional states. We expect that hearing about 10,000 deaths […]