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Three explanations for the Kahneman-Tversky Programme of the 1970s

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  • Floris Heukelom

Abstract

This article provides a historical description of the background and development of Kahneman and Tversky's collaborative research of the 1970s and advances three explanations for their success. A first reason for the two psychologists' triumph in economics is that they provided a friendly criticism of economics based on a re-interpretation of normative and descriptive. A second reason for their success was the new type of experiments they could use. A third reason was their effective use of intuitively appealing examples, to which not only the experimental subjects but also the readers of the articles could relate.

Suggested Citation

  • Floris Heukelom, 2012. "Three explanations for the Kahneman-Tversky Programme of the 1970s," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 19(5), pages 797-828, October.
    • Handle: RePEc:taf:eujhet:v:19:y:2012:i:5:p:797-828
    DOI: 10.1080/09672567.2010.540350
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    References listed on IDEAS

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    1. Amadae, S.M., 2003. "Rationalizing Capitalist Democracy," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226016535, December.
    2. Phillips, Lawrence D. & von Winterfeldt, Detlof, 2006. "Reflections on the contributions of Ward Edwards to decision analysis and behavioral research," LSE Research Online Documents on Economics 22711, London School of Economics and Political Science, LSE Library.
    3. Diamond, Peter & Rothschild, Michael (ed.), 1978. "Uncertainty in Economics," Elsevier Monographs, Elsevier, edition 1, number 9780122148507.
    4. Maas,Harro, 2005. "William Stanley Jevons and the Making of Modern Economics," Cambridge Books, Cambridge University Press, number 9780521827126.
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    Cited by:

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    2. Assistant, JHET & Graf, Rüdiger, 2020. "Of Alcohol, Apes, And Taxes: Günter Schmölders And The Reinvention Of Economics In Behavioral Terms," OSF Preprints vyarx, Center for Open Science.
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    5. Banzhaf, H. Spencer, 2016. "Constructing markets: environmental economics and the contingent valuation controversy," MPRA Paper 78814, University Library of Munich, Germany.

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