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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.

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  • 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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    1. 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.
    2. Maas,Harro, 2005. "William Stanley Jevons and the Making of Modern Economics," Cambridge Books, Cambridge University Press, number 9780521827126, January.
    3. Amadae, S.M., 2003. "Rationalizing Capitalist Democracy," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226016535, December.
    4. Diamond, Peter & Rothschild, Michael (ed.), 1978. "Uncertainty in Economics," Elsevier Monographs, Elsevier, edition 1, number 9780122148507.
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    3. 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.
    4. Dorian Jullien, 2013. "Asian Disease-type of Framing of Outcomes as an Historical Curiosity," GREDEG Working Papers 2013-47, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    5. Lorenzo Esposito & Giuseppe Mastromatteo, 2024. "Behavioral economics and the nature of neoclassical paradigm," Mind & Society: Cognitive Studies in Economics and Social Sciences, Springer;Fondazione Rosselli, vol. 23(1), pages 45-78, December.
    6. Edwards, José, 2017. "Journal of the History of Economic Thought preprints - Harry Helson’s Adaptation-Level Theory, Happiness Treadmills, and Behavioral Economics," SocArXiv 6cvbh, Center for Open Science.

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