Abstract
A prominent figure in the new hedonic psychology, Daniel Kahneman has been influential in the emergence of behavioural economics. His research programme on heuristics and judgemental biases points to a range of important ways that economics has traditionally misunderstood human behaviour, and identifies how some common economic assumptions have been misleading. Especially in light of potential flaws in the way people manage their well-being, Kahneman and his colleagues have launched research that may help move economics towards a more realistic approach both to predicting behaviour and to welfare analysis.
This chapter was originally published in The New Palgrave Dictionary of Economics, 2nd edition, 2008. Edited by Steven N. Durlauf and Lawrence E. Blume
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Rabin, M. (2008). Kahneman, Daniel (Born 1934). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_2653-1
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DOI: https://doi.org/10.1057/978-1-349-95121-5_2653-1
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Publisher Name: Palgrave Macmillan, London
Online ISBN: 978-1-349-95121-5
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