When The Science Of Mistakes Made A Big Mistake

“This scientific study of scientific bias would ignite a romance of the mind, one that spanned several decades and ended up transforming both psychology and economics. Danny Kahneman and Amos Tversky went on to show that mistakes in human judgment are not exceptions but the rule, resulting from a host of mental shortcuts and distortions that cannot be avoided. We do not behave like “rational actors,” as economists once presumed; rather, we’re predictably misguided—subject to a “bounded rationality.” Tversky went on to win a MacArthur “genius” grant on the basis of their work. Kahneman would get a Nobel Prize.”