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Michael Lewis On How Behavioural Economics Changed The World

Intelligence Squared

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The Prospect Theory Paper That Wins the Nobel Prize in Economics

David Frum: Two Israeli intellectuals who were at odds with their own field. They really are just asking what's going on inside the mind and trying to find scientifically respectable ways to investigate it, he says. When they're doing this work, they stumble upon some insights that become a Nobel Prize-winning paper called prospect theory. He says these people blew a hole in the side of economics and shoved some psychology into it.

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