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The Essential Tversky

The Essential Tversky
Author: Amos Tversky
Publisher: MIT Press
Total Pages: 396
Release: 2018-07-17
Genre: Psychology
ISBN: 0262535106

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Some of the best and most influential papers by Amos Tversky, one of the most brilliant social science thinkers of the twentieth century. Amos Tversky (1937–1996) was a towering figure in the cognitive and decision sciences. His work was ingenious, exciting, and influential, spanning topics from intuition to statistics to behavioral economics. His long and extraordinarily productive collaboration with his friend and colleague Daniel Kahneman was the subject of Michael Lewis's best-selling book, The Undoing Project: A Friendship that Changed Our Minds. The Essential Tversky offers a selection of Tversky's best, most influential and accessible papers, “classics” chosen to capture the essence of Tversky's thought. The impact of Tversky's work is far reaching and long-lasting. In 2002, Kahneman, who drew on their joint work in his much-praised 2013 book, Thinking, Fast and Slow (and who contributes an afterword to this collection), was awarded the Nobel Prize in Economics for work done with Tversky. In The Undoing Project, Lewis (who contributes a foreword to this collection) describes his discovery that Tversky and Kahneman's thinking laid the foundation for Moneyball, his own ode to number-crunching. The papers collected in The Essential Tversky cover topics that include cognitive and perceptual bias, misguided beliefs, inconsistent preferences, risky choice and loss aversion decisions, and psychological common sense. Together, they offer nonspecialist readers an introduction to one of the most brilliant social science thinkers of the twentieth century.


Preference, Belief, and Similarity

Preference, Belief, and Similarity
Author: Amos Tversky
Publisher: MIT Press
Total Pages: 1046
Release: 2003-11-21
Genre: Psychology
ISBN: 9780262700931

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Amos Tversky (1937–1996), a towering figure in cognitive and mathematical psychology, devoted his professional life to the study of similarity, judgment, and decision making. He had a unique ability to master the technicalities of normative ideals and then to intuit and demonstrate experimentally their systematic violation due to the vagaries and consequences of human information processing. He created new areas of study and helped transform disciplines as varied as economics, law, medicine, political science, philosophy, and statistics. This book collects forty of Tversky's articles, selected by him in collaboration with the editor during the last months of Tversky's life. It is divided into three sections: Similarity, Judgment, and Preferences. The Preferences section is subdivided into Probabilistic Models of Choice, Choice under Risk and Uncertainty, and Contingent Preferences. Included are several articles written with his frequent collaborator, Nobel Prize-winning economist Daniel Kahneman.


An Analysis of Amos Tversky and Daniel Kahneman's Judgment Under Uncertainty

An Analysis of Amos Tversky and Daniel Kahneman's Judgment Under Uncertainty
Author: Camille Morvan
Publisher: CRC Press
Total Pages: 93
Release: 2017-07-05
Genre: Business & Economics
ISBN: 1351350609

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Amos Tversky and Daniel Kahneman’s 1974 paper ‘Judgement Under Uncertainty: Heuristics and Biases’ is a landmark in the history of psychology. Though a mere seven pages long, it has helped reshape the study of human rationality, and had a particular impact on economics – where Tversky and Kahneman’s work helped shape the entirely new sub discipline of ‘behavioral economics.’ The paper investigates human decision-making, specifically what human brains tend to do when we are forced to deal with uncertainty or complexity. Based on experiments carried out with volunteers, Tversky and Kahneman discovered that humans make predictable errors of judgement when forced to deal with ambiguous evidence or make challenging decisions. These errors stem from ‘heuristics’ and ‘biases’ – mental shortcuts and assumptions that allow us to make swift, automatic decisions, often usefully and correctly, but occasionally to our detriment. The paper’s huge influence is due in no small part to its masterful use of high-level interpretative and analytical skills – expressed in Tversky and Kahneman’s concise and clear definitions of the basic heuristics and biases they discovered. Still providing the foundations of new work in the field 40 years later, the two psychologists’ definitions are a model of how good interpretation underpins incisive critical thinking.


Choices, Values, and Frames

Choices, Values, and Frames
Author: Daniel Kahneman
Publisher: Cambridge University Press
Total Pages: 864
Release: 2000-09-25
Genre: Psychology
ISBN: 1107651069

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This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.


The Undoing Project

The Undoing Project
Author: Michael Lewis
Publisher: National Geographic Books
Total Pages: 0
Release: 2017-10-31
Genre: Science
ISBN: 0393354776

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“Brilliant. . . . Lewis has given us a spectacular account of two great men who faced up to uncertainty and the limits of human reason.” —William Easterly, Wall Street Journal Forty years ago, Israeli psychologists Daniel Kahneman and Amos Tversky wrote a series of breathtakingly original papers that invented the field of behavioral economics. One of the greatest partnerships in the history of science, Kahneman and Tversky’s extraordinary friendship incited a revolution in Big Data studies, advanced evidence-based medicine, led to a new approach to government regulation, and made much of Michael Lewis’s own work possible. In The Undoing Project, Lewis shows how their Nobel Prize–winning theory of the mind altered our perception of reality.


Mind in Motion

Mind in Motion
Author: Barbara Tversky
Publisher: Basic Books
Total Pages: 384
Release: 2019-05-21
Genre: Psychology
ISBN: 0465093078

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An eminent psychologist offers a major new theory of human cognition: movement, not language, is the foundation of thought When we try to think about how we think, we can't help but think of words. Indeed, some have called language the stuff of thought. But pictures are remembered far better than words, and describing faces, scenes, and events defies words. Anytime you take a shortcut or play chess or basketball or rearrange your furniture in your mind, you've done something remarkable: abstract thinking without words. In Mind in Motion, psychologist Barbara Tversky shows that spatial cognition isn't just a peripheral aspect of thought, but its very foundation, enabling us to draw meaning from our bodies and their actions in the world. Our actions in real space get turned into mental actions on thought, often spouting spontaneously from our bodies as gestures. Spatial thinking underlies creating and using maps, assembling furniture, devising football strategies, designing airports, understanding the flow of people, traffic, water, and ideas. Spatial thinking even underlies the structure and meaning of language: why we say we push ideas forward or tear them apart, why we're feeling up or have grown far apart. Like Thinking, Fast and Slow before it, Mind in Motion gives us a new way to think about how--and where--thinking takes place.


Judgment Under Uncertainty

Judgment Under Uncertainty
Author: Daniel Kahneman
Publisher: Cambridge University Press
Total Pages: 574
Release: 1982-04-30
Genre: Psychology
ISBN: 9780521284141

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Thirty-five chapters describe various judgmental heuristics and the biases they produce, not only in laboratory experiments, but in important social, medical, and political situations as well. Most review multiple studies or entire subareas rather than describing single experimental studies.


Scarcity

Scarcity
Author: Sendhil Mullainathan
Publisher: Macmillan
Total Pages: 303
Release: 2013-09-03
Genre: Business & Economics
ISBN: 0805092641

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A surprising and intriguing examination of how scarcity—and our flawed responses to it—shapes our lives, our society, and our culture


Decision Making

Decision Making
Author: David E. Bell
Publisher: Cambridge University Press
Total Pages: 640
Release: 1988-10-28
Genre: Business & Economics
ISBN: 9780521368513

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A compilation of different approaches--normative, descriptive,and prescriptive--develops this integrated analysis of decision-making that emphasizes the contributions of various disciplinary interests.


Critical Thinking

Critical Thinking
Author: Varda Liberman
Publisher:
Total Pages: 320
Release: 2020-06-30
Genre: Business & Economics
ISBN: 9780231187688

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Critical Thinking examines how we make judgments under uncertainty and how various biases can distort our consideration of evidence. Via everyday examples, Varda Liberman and Amos Tversky explore the insights of probability, causal relationships, and making inferences from samples with the goal of helping readers improve their intuitive reasoning.