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Plain English

Daniel Kahneman and behavioral economics (Pass away)

May 23, 2024
Renowned psychologist Daniel Kahneman, known as the 'grandfather of behavioral economics,' discusses human decision-making. Topics include the evolution from homo economicus to behavioral economics, exploring his legacy after his passing, the emotional nuances of 'pass away' versus 'die,' and promoting English language practice for listeners.
21:48

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Quick takeaways

  • Daniel Kahneman revolutionized economics by studying human behavior and decision-making, challenging traditional models.
  • 'Pass away' is a sensitive expression to describe death, showing empathy and respect for the grieving.

Deep dives

Daniel Kahneman and the Birth of Behavioral Economics

Behavioral economics emerged as a field challenging the traditional view of humans as always rational decision-makers. Daniel Kahneman, a Nobel Prize winner and author of 'Thinking, Fast and Slow,' is known as the grandfather of behavioral economics. He collaborated with Amos Tversky to conduct experiments that highlighted the flaws in the rational economic model, revolutionizing the study of economics. By examining human behavior and decision-making, Kahneman reshaped the understanding of how individuals make choices and challenges the unrealistic concept of homo economicus.

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