Daniel Kahneman has done a considerable amount of work on human intuition and decision making. I highly recommend his paper “A Psychological Perspective on Economics” (American Economic Review 93.2 [2003]: 162–168), and I have already discussed the “heuristic and biases” method of Tversky and Kahneman, and how this is a very useful approach to decision-making under uncertainty, which confirms and complements the Post Keynesian theory of business decision-making under uncertainty (Tversky and Kahneman 1974; and Kahneman et al. 1982; Fontana 2009: 39–41).
I post two videos below.
The first Daniel Kahneman talks about behavioural economics.
The second is an extended, more general interview with Daniel Kahneman by Harry Kreisler, in the Conversations with History (2007). It is a wide-ranging interview.
BIBLIOGRAPHY
Fontana, G. 2009. Money, Uncertainty and Time, Routledge, London and New York.
Kahneman D. 2003. “A Psychological Perspective on Economics,” American Economic Review 93.2: 162–168.
Kahneman, D., Slovic, P. and A. Tversky (eds), 1982. Judgment Under Uncertainty: Heuristics and Biases, Cambridge University Press, Cambridge.
Tversky, A. and D. Kahneman, 1974. “Judgment under Uncertainty: Heuristics and Biases,” Science (American Association for the Advancement of Science) 185 (4157): 1124–1131.
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Speaking of Amos Tversky and Daniel Kahneman, they have been reviewed by Dr. Brady as experimentalists who are nothing more than footnotes to Keynes when it comes to decision-theoretic contributions. As a side-note, Tversky was in fact invited to comment on Dr. Brady's publications in the journal Psychological Reports, but declined the offer. See Dr. Brady's review of this book by Kahneman and Tversky for more.
ReplyDeletehttp://www.amazon.com/review/RJA1JDCPMRN80/