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Daniel Kahneman and Vernon Smith: Nobel Prize for the Feeling of Reality (Economic Analysis of Human Behavior)

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  • A. Belyanin

Abstract

Scientific achievements of 2002 Nobel Prize winners D. Kahneman and V. Smith are considered in the article. It is pointed out that for the first time the winner of the Nobel Prize in economics represents another scientific discipline - psychology. The main contribution of D. Kahneman in economic theory is the construction of the model of human behavior which differs from the classical homo oeconomicus model and reflects the peculiarities of human behavior more exactly. V. Smith is considered to be the father of experimental economics. By means of laboratory experiments he confirmed some basic theoretical hypotheses. Awarding the Prize to these scientists is the great step towards strengthening the interdisciplinary cooperation in the sphere of social sciences.

Suggested Citation

  • A. Belyanin, 2003. "Daniel Kahneman and Vernon Smith: Nobel Prize for the Feeling of Reality (Economic Analysis of Human Behavior)," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 1.
    • Handle: RePEc:nos:voprec:y:2003:id:1982
    DOI: 10.32609/0042-8736-2003-1-4-23
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