Economists
Amos Tversky
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Amos Tversky was an Israeli-American psychologist who, with Daniel Kahneman, developed prospect theory, the descriptive model of decision-making under risk that founded behavioral economics by showing systematically how real choices depart from the rational-actor model neoclassical theory assumed. He taught at Stanford University from 1978 until his death in 1996; because the Nobel Memorial Prize is not awarded posthumously, only Kahneman received the 2002 prize their joint work made possible.
Facts
Cross-Tradition Connections
Associated With
Their first direct edge to each other on this atlas; both already carry a shared associated-with-school edge to Behavioral Economics and a shared attributed-to edge from Loss Aversion, but nothing joined them directly until now. Co-developed prospect theory (1979) and shared the 2002 Nobel work.
Associated With School
Tversky and Kahneman co-developed prospect theory (1979); behavioral economics is credited to both, not Kahneman alone.
Concepts Originated
Sources
1. Prospect Theory: An Analysis of Decision under Risk
Daniel Kahneman and Amos Tversky, 1979
1. Prospect Theory: An Analysis of Decision under Risk
Daniel Kahneman and Amos Tversky, 1979Concepts Originated: Loss Aversion, Section 4Quote, Concepts Originated: Loss Aversion, Section 4
Kahneman and Tversky's 1979 prospect theory paper documented that losses loom larger than equivalent gains in people's decisions under risk.
Wikipedia
Wikimedia FoundationAssociated With: Daniel Kahneman, Amos Tversky, Nobel Prize and legacy sectionQuote, Associated With: Daniel Kahneman, Amos Tversky, Nobel Prize and legacy section
It is a joint prize. We were twinned for more than a decade.
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