Judgment under Uncertainty

Heuristics and Biases

Business & Finance, Economics
Cover of the book Judgment under Uncertainty by Camille Morvan, William J. Jenkins, Macat Library
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Camille Morvan, William J. Jenkins ISBN: 9781351352390
Publisher: Macat Library Publication: July 5, 2017
Imprint: Macat Library Language: English
Author: Camille Morvan, William J. Jenkins
ISBN: 9781351352390
Publisher: Macat Library
Publication: July 5, 2017
Imprint: Macat Library
Language: English

Amos Tversky and Daniel Kahneman’s 1974 paper ‘Judgement Under Uncertainty: Heuristics and Biases’ is a landmark in the history of psychology. Though a mere seven pages long, it has helped reshape the study of human rationality, and had a particular impact on economics – where Tversky and Kahneman’s work helped shape the entirely new sub discipline of ‘behavioral economics.’

The paper investigates human decision-making, specifically what human brains tend to do when we are forced to deal with uncertainty or complexity. Based on experiments carried out with volunteers, Tversky and Kahneman discovered that humans make predictable errors of judgement when forced to deal with ambiguous evidence or make challenging decisions. These errors stem from ‘heuristics’ and ‘biases’ – mental shortcuts and assumptions that allow us to make swift, automatic decisions, often usefully and correctly, but occasionally to our detriment.

The paper’s huge influence is due in no small part to its masterful use of high-level interpretative and analytical skills – expressed in Tversky and Kahneman’s concise and clear definitions of the basic heuristics and biases they discovered. Still providing the foundations of new work in the field 40 years later, the two psychologists’ definitions are a model of how good interpretation underpins incisive critical thinking.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Amos Tversky and Daniel Kahneman’s 1974 paper ‘Judgement Under Uncertainty: Heuristics and Biases’ is a landmark in the history of psychology. Though a mere seven pages long, it has helped reshape the study of human rationality, and had a particular impact on economics – where Tversky and Kahneman’s work helped shape the entirely new sub discipline of ‘behavioral economics.’

The paper investigates human decision-making, specifically what human brains tend to do when we are forced to deal with uncertainty or complexity. Based on experiments carried out with volunteers, Tversky and Kahneman discovered that humans make predictable errors of judgement when forced to deal with ambiguous evidence or make challenging decisions. These errors stem from ‘heuristics’ and ‘biases’ – mental shortcuts and assumptions that allow us to make swift, automatic decisions, often usefully and correctly, but occasionally to our detriment.

The paper’s huge influence is due in no small part to its masterful use of high-level interpretative and analytical skills – expressed in Tversky and Kahneman’s concise and clear definitions of the basic heuristics and biases they discovered. Still providing the foundations of new work in the field 40 years later, the two psychologists’ definitions are a model of how good interpretation underpins incisive critical thinking.

More books from Macat Library

Cover of the book The Politics of Piety by Camille Morvan, William J. Jenkins
Cover of the book Before European Hegemony by Camille Morvan, William J. Jenkins
Cover of the book The End of History and the Last Man by Camille Morvan, William J. Jenkins
Cover of the book The Better Angels of Our Nature by Camille Morvan, William J. Jenkins
Cover of the book Stephen Greenblatt's Renaissance Self-Fashioning by Camille Morvan, William J. Jenkins
Cover of the book We Now Know by Camille Morvan, William J. Jenkins
Cover of the book The Social Contract by Camille Morvan, William J. Jenkins
Cover of the book Utilitarianism by Camille Morvan, William J. Jenkins
Cover of the book On Suicide by Camille Morvan, William J. Jenkins
Cover of the book The Hitler Myth by Camille Morvan, William J. Jenkins
Cover of the book The Problem of Slavery in the Age of Revolution by Camille Morvan, William J. Jenkins
Cover of the book Kicking Away the Ladder by Camille Morvan, William J. Jenkins
Cover of the book Our Ecological Footprint by Camille Morvan, William J. Jenkins
Cover of the book The Concept of Mind by Camille Morvan, William J. Jenkins
Cover of the book Martin Buber's I and Thou by Camille Morvan, William J. Jenkins
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy