Researched
Behavioral Economics
Kahneman and Tversky show (1979) that people deviate systematically from 'rational' choice: economics turns psychological.
Open in the interactive tree →Prospect theory: losses weigh heavier than equal gains. Kahneman received the 2002 and Thaler the 2017 economics Nobel (nudging: defaults for organ donation or retirement saving). It shapes regulation and product design and fuels debates about manipulation on platforms.
Prerequisites
- Bayesian Inference1763Kahneman and Tversky measured how far human judgement departs from Bayes' rule
- Economics1776
- Game Theory1944
- Cognitive revolution1956Kahneman and Tversky applied cognitive psychology to economic choice
Unlocks
- Platform Regulation (DMA/DSA)2023-2026DSA limits on manipulative interface design draw on behavioural economics
- Disinformation & TrustopenCognitive biases explain why false, emotive news spreads on attention platforms