Challenging Economic Assumptions with Daniel Kahneman's Prospect Theory

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Exploring Daniel Kahneman's research on Prospect Theory that revolutionized economic models by challenging the assumption of human rationality. The chapter highlights Kahneman's partnership with Amos Tversky in debunking conventional theories and focusing on decision-making processes.

Daniel Kahneman passed away on 27th March and your LinkedIn feed is probably filled with people telling you why Kahneman’s book “Thinking, Fast and Slow” is the best book ever written.

And there’s no denying it’s a great book. But it also draws heavily from the research he conducted in the preceding decades. Research that won Daniel Kahneman, a psychologist with no formal training in economics, the Nobel Prize in Economics in 2002. So in today’s Finshots, we thought we’d talk about what led to him winning the prestigious award.

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