Dan Kahneman and Amos Tversky’s behavioural economics theory modeling how we make decisions. It illustrates, among other things, some of the non-rational decisions we make as we are guided by emotion and heuristics .
Daniel Kahneman (born March is an Israeli-American psychologist. He was awarded the 2002 Nobel Memorial Prize in Economic Sciences. He is notable for his work on the psychology of judgment and decision-making, behavioral economics and hedonic psychology.
What If a Psychologist wins the Nobel Prize of economy? Kahneman and Tversky published a series of seminal articles in the general field of judgment and decision-making, culminating in the publication of their prospect theory in 1979 (Kahneman & Tversky, 1979). Kahneman was awarded the Nobel Memorial Prize in Economics in 2002 for his work on prospect theory. Now check fast and slow thinking.
When people select alternatives, they avoid loss and optimize for sure wins because the pain of losing is greater than the satisfaction of an equivalent gain. UX designs should frame decisions accordingly.