Think Fast with Daniel Kahneman

Hidden Brain

Hidden Brain Media

Social Sciences, Performing Arts, Science, Arts

4.6 • 42.5K Ratings

🗓️ 13 March 2018

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Do humans act rationally? Economic theory has long told us the answer is "yes." But a half century ago, two psychologists — Daniel Kahneman and Amos Tversky — began to challenge this notion. Their work laid the foundation for behavioral economics and influenced many scholars who've followed in their footsteps. This week, we mark our 100th episode by talking with Daniel Kahneman about his collaboration with Tversky, and how their work transformed our thinking about judgment, memory, and the mind itself.

Transcript

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0:00.0	This is Hidden Brain, I'm Shankar Vedanta.
0:02.6	Economic theory rests on a simple notion about human beings.
0:06.8	People are rational.
0:09.4	They seek out the best information.
0:11.6	They measure costs and benefits,
0:13.8	and maximize pleasure and profit.
0:17.4	This idea of the rational economic actor
0:20.7	has been around for centuries.
0:23.2	But about 50 years ago, two obscure psychologists
0:31.3	shattered these foundational assumptions.
0:34.6	The psychologists showed that people routinely walk away from good money,
0:39.5	and they explain why once people get in a hole,
0:43.1	they often keep digging.
0:46.3	The methods of these psychologists were as unusual as their insights.
0:50.8	Daniel Kahneman and Amos Tversky
0:53.1	spent hours together talking.
0:56.4	They came up with playful thought experiments.
0:59.6	They laughed a lot.
1:01.6	We felt our own mistakes very funny.
1:04.4	What was fun was finding yourself
1:08.0	about to say something really stupid.
1:12.9	This is Daniel Kahneman, the insights he developed with Amos Tversky,
	...

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