To really understand how economies behave, we must therefore understand the psychology of entrepreneurs and other key market participants. To learn more, I spoke with Professor Daniel Kahneman, who is widely regarded as being the world’s most influential living psychologist. In 2002 he was awarded the Nobel Prize in Economics “for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty”, work he undertook with the late Amos Tversky. Kahneman is a Senior Scholar at the Woodrow Wilson School of Public and International Affairs at Princeton.
We Need to Re-Think Economics