Typical of these is the “anchoring effect”: our tendency to be influenced by irrelevant numbers that we happen to be exposed to. In the first, he and Tversky did a series of ingenious experiments that revealed twenty or so “cognitive biases” - unconscious errors of reasoning that distort our judgment of the world. There are essentially three phases to his career. Human irrationality is Kahneman’s great theme. Had Tversky lived, he would certainly have shared the Nobel with Kahneman, his longtime collaborator and dear friend. The other half of the dismantling duo, Amos Tversky, died in 1996 at the age of 59. Specifically, he is one-half of a pair of psychologists who, beginning in the early 1970s, set out to dismantle an entity long dear to economic theorists: that arch-rational decision maker known as Homo economicus. What made this unusual is that Kahneman is a psychologist. In 2002, Daniel Kahneman won the Nobel in economic science.
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