Daniel Kahneman's work on behavioral economics challenged traditional economic assumptions about human decisionmaking from "summary" of The Worldly Philosophers by Robert L. Heilbroner
Daniel Kahneman, a psychologist by training, brought a fresh perspective to the study of economics by introducing insights from the field of behavioral economics. In doing so, he raised questions about the traditional assumptions made by economists regarding human decision-making. Kahneman's research challenged the idea that individuals always act rationally and in their best economic interests when making choices. One of the key concepts that Kahneman introduced was the idea of cognitive biases, which are systematic patterns of deviation from rationality in judgment. These biases can lead individuals to...
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