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Search resuls for: "Tversky"


7 mentions found


☆ Daniel Kahneman, the Nobel Prize winner who wrote Thinking, Fast and Slow, dies aged 90
  + stars: | 2024-03-28 | by ( Diksha Madhok | ) edition.cnn.com   time to read: +2 min
New Delhi CNN —Daniel Kahneman, who won the Nobel Prize for his pioneering theories on behavioral economics, has died. The Israeli-American psychologist died peacefully on Wednesday, according to a release from Princeton University, whose faculty he had joined in 1993. Kahneman, who also wrote the best-selling book Thinking, Fast and Slow, helped debunk the notion that people’s behavior is driven by rational decision-making, and instead is often based on instinct. Then, at 27, he returned to Hebrew University to teach statistics and psychology and began his famous partnership with Amos Tversky, also a Hebrew University psychology professor. In 2002, six years after Tversky’s death, Kahneman won the Nobel Prize in Economics for their models of how intuitive reasoning is flawed in predictable ways.
Persons: New Delhi CNN — Daniel Kahneman, Kahneman, Danny, Eldar Shafir, ” Kahneman, Amos Tversky Organizations: New, New Delhi CNN, Princeton University, Hebrew University, Royal Swedish Academy of Sciences Locations: New Delhi, American, Tel Aviv, Paris, France, British, Palestine, Israel, Jerusalem, Berkeley
☆ Nobelist Daniel Kahneman, a Pioneer of Behavioral Economics, Is Dead at 90
  + stars: | 2024-03-27 | by ( Associated Press | March | At P.M. | ) www.usnews.com   time to read: +4 min
SAN FRANCISCO (AP) — Daniel Kahneman, a psychologist who won a Nobel Prize in economics for his insights into how ingrained neurological biases influence decision making, died Wednesday at the age of 90. In an excerpt from his book, Kahneman described a “leaderless group” challenge used by the Israeli army's Psychology Branch to assess future leadership potential. “It was the first cognitive illusion I discovered,” Kahneman later wrote. “The experience was magical,” Kahneman later wrote in his Nobel autobiography. Combined with other findings, the pair developed a theory of risky choice they eventually named “prospect theory.”Kahneman received the Nobel Prize in economics in 2002 for these and other contributions that ended up underpinning the discipline now known as behavioral economics.
Persons: — Daniel Kahneman, Kahneman, Amos Tversky, —, ” Kahneman, Barbara Tversky —, Amos Tversky —, Tversky, “ Amos Organizations: FRANCISCO, Associated Press, Stanford University Locations: Tel Aviv
☆ Daniel Kahneman, Who Plumbed the Psychology of Economics, Dies at 90
  + stars: | 2024-03-27 | by ( Robert D. Hershey Jr. | ) www.nytimes.com   time to read: +1 min
Daniel Kahneman, who never took an economics course but who pioneered a psychologically based branch of that field that led to a Nobel in economic science in 2002, died on Wednesday. His death was confirmed by his partner, Barbara Tversky. Professor Kahneman, who was long associated with Princeton University and lived in Manhattan, employed his training as a psychologist to advance what came to be called behavioral economics. (Ms. Tversky had been married to Professor Tversky, who died in 1996. She and Professor Kahneman became partners several years ago.)
Persons: Daniel Kahneman, Barbara Tversky, Kahneman, Amos Tversky, Tversky Organizations: Princeton University Locations: Manhattan, Stanford
☆ How Behavioral Economics Took Over America - The New York Times
  + stars: | 2023-11-30 | by ( Leif Weatherby | ) www.nytimes.com   time to read: +2 min
My watch constantly buzzes with “relax reminders.” The number of calories appears next to every menu item at fast-food restaurants. The “nudge doctrine” the pair developed has led to the creation of hundreds of “nudge units” in governments all over the world (including our own), that seek to put nudges in policies and procedures. The science behind nudging is little more than a thin set of claims about how humans are “predictably irrational,” and our policies and systems should heavily divest from its influence. The nudge doctrine originated in behavioral economics, a field of applied social science that has deeply influenced public policy and algorithm design. Behavioral economics is based in large part on the Nobel-winning insights of Daniel Kahneman and Amos Tversky, whose groundbreaking experiments in the 1970s showed that humans made systematic errors when reasoning about statistics.
Persons: Cass Sunstein, Richard Thaler, Daniel Kahneman, Amos Tversky Organizations: Nobel
☆ AI boom could expose investors’ natural stupidity
  + stars: | 2023-05-19 | by ( Felix Martin | ) www.reuters.com   time to read: +7 min
Indeed, enthusiasm about AI has become the one ray of light piercing the stock market gloom created by the record-breaking rise in U.S. interest rates. It’s a good moment for investors to be especially alert to the tendency of natural stupidity to drive stock market valuations to unrealistic – and therefore ultimately unprofitable – extremes. However, the most important lessons of behavioural economics relate to a more fundamental question: Will the new generation of AI do what it promises? Behavioural economics offers some cautionary tales for such attempts to apply AI in the wild. For example, stock market returns can be affected by a small number of rare but extreme movements in share prices.
☆ Bob Pisani: Think you're a rational investor? These biases make it harder to reach your financial goals
  + stars: | 2022-12-21 | by ( Bob Pisani | ) www.cnbc.com   time to read: +6 min
They found that the fear of an emotional loss was more than twice as powerful as an emotional gain. Many of those biases are now a common part of our understanding of how humans interact with the stock market. These biases can be broken down into two groups: cognitive errors due to faulty reasoning, and emotional biases that come from feelings. Loss aversion is an example of an emotional bias. See if you recognize yourself in any of these emotional biases.
☆ The fear of loss can cost investors big-time. Here’s how
  + stars: | 2022-11-29 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +6 min
Westend61The fear of loss is a powerful emotion for investors — and, if left unchecked, can cost them big bucks in the long term due to years of forfeiture of investment gains. watch nowFor investors, that evolutionary impulse plays out as "loss aversion bias." Investors have a bias toward avoiding financial loss. Prioritizing the avoidance of loss over earning a gain "is a major reason why so many investors underperform the market," Aguilar said. Meanwhile, 401(k) investors pulled money out of stock mutual funds during the same time period.
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