Freakonomics Radio

596. Farewell to a Generational Talent

41 snips
Jul 11, 2024
Shane Frederick, a marketing professor at Yale, and Matt Killingsworth, a senior fellow at Wharton, gather to celebrate Daniel Kahneman's enormous impact on behavioral economics. They explore key concepts like loss aversion and the planning fallacy while reflecting on Kahneman's collaborative spirit in scientific research. The duo delves into the complex relationship between income and happiness, discussing innovative methodologies that challenge conventional wisdom. Additionally, they emphasize the importance of adversarial collaboration in enhancing research integrity.
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ANECDOTE

Kahneman's Early Education

  • Maya Bar-Hillel's father, a philosophy professor, taught Kahneman at Hebrew University.
  • He gave Kahneman "a lot of grief", as he did with most students.
INSIGHT

Strategic Publication

  • Kahneman and Tversky strategically published in Econometrica to reach a wider audience.
  • They recognized their work's importance beyond psychology and wanted to grab economists' attention.
INSIGHT

Decision Narratives

  • People often create narratives to justify decisions, even if those narratives are not entirely accurate.
  • We want to appear smarter, both to ourselves and others, which affects how we explain our choices.
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