Do you, as a taxpayer, want to know exactly how much individual free schools have cost you over recent years, given that this is a flagship government education policy that seems likely to feature in the Conservatives’ manifesto?
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.
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 in decisions.