Word: kahneman
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Dates: during 2000-2009
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...Included in the panel were Princeton University's Daniel Kahneman, one of the first psychologists to apply happiness studies to economics; the British economist Nicolas Stern, whose influential "Stern Report" advocated green technologies to stimulate economic growth; and Robert Putnam, the Harvard sociologist and best-selling author of Bowling Alone, which traces the decline of the U.S.'s "social capital" through the decline of 10-pin bowling leagues...
...Perhaps the most influential work in this field was done by Daniel Kahneman and the late Amos Tversky in the 1970s and '80s. The partners developed a number of experiments that proved even smart people will arrive at wrong answers to fairly simple questions, depending on how information is presented to them. In one example, they told test subjects about a woman named Linda, who "is 31 years old, single, outspoken, and very bright." They added that Linda "majored in philosophy," "was deeply concerned with issues of discrimination" and "participated in anti-nuclear demonstrations...
...short, decisions aren't based on brains alone. They are determined, as Kahneman and Tversky put it, "partly by the formulation of the problem and partly by the norms, habits, and personal characteristics of the decision maker...
...existence of this behavioral dream team - which also included best-selling authors Dan Ariely of MIT (Predictably Irrational) and Richard Thaler and Cass Sunstein of the University of Chicago (Nudge) as well as Nobel laureate Daniel Kahneman of Princeton - has never been publicly disclosed, even though its members gave Obama white papers on messaging, fundraising and rumor control as well as voter mobilization. All their proposals - among them the famous online fundraising lotteries that gave small donors a chance to win face time with Obama - came with footnotes to peer-reviewed academic research. "It was amazing to have these bullet...
...make dumb choices all the time on the basis of silly information like racial bias or a misunderstanding of statistics - or dreams. Morewedge and Norton quote one of the most famous modern studies to demonstrate our collective folly, from a paper written by psychologists Amos Tversky and Daniel Kahneman that was published in Science in 1974. In that paper, Tversky and Kahneman discuss an experiment in which subjects were asked to estimate the percentage of African countries represented in the U.N. Before they guessed, a researcher spun a wheel of fortune in front of them that landed on a random...