Why do we attempt to justify decisions that are clearly irrational? The answer lies in "cognitive dissonance," the feeling of mental discomfort we experience when we hold two contradictory beliefs at the same time.
Why do we attempt to justify decisions that are clearly irrational? The answer lies in "cognitive dissonance," the feeling of mental discomfort we exp...
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...
Amos Tversky and Daniel Kahneman’s 1974 paper ‘Judgement Under Uncertainty: Heuristics and Biases’ is a landmark in the history of p...
