Journal of Economic Literature
ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)
Psychologists at the Gate: A Review of Daniel Kahneman's Thinking, Fast and Slow
Journal of Economic Literature
(pp. 1080–91)
Abstract
The publication of Daniel Kahneman's book, Thinking, Fast and Slow, is a major intellectual event. The book summarizes, but also integrates, the research that Kahneman has done over the past forty years, beginning with his path-breaking work with the late Amos Tversky. The broad theme of this research is that human beings are intuitive thinkers and that human intuition is imperfect, with the result that judgments and choices often deviate substantially from the predictions of normative statistical and economic models. In this review, I discuss some broad ideas and themes of the book, describe some economic applications, and suggest future directions for research that the book points to, especially in decision theory. (JEL A12, D03, D80, D87)Citation
Shleifer, Andrei. 2012. "Psychologists at the Gate: A Review of Daniel Kahneman's Thinking, Fast and Slow." Journal of Economic Literature 50 (4): 1080–91. DOI: 10.1257/jel.50.4.1080JEL Classification
- A12 Relation of Economics to Other Disciplines
- D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
- D80 Information, Knowledge, and Uncertainty: General
- D87 Neuroeconomics