Amos Tversky was an influential Israeli cognitive psychologist known for his groundbreaking work in decision-making and the study of human judgment. Born in 1937 and passing away in 1996, Tversky collaborated extensively with fellow psychologist Daniel Kahneman and together they revolutionized the field of psychology, particularly in the area of behavioral economics.
Tversky's contributions focused on how people perceive and process information and how these cognitive processes affect decision-making. His research shed light on various cognitive biases and he developed key theoretical concepts such as heuristics and prospect theory. Tversky's work challenged the traditional view of human rationality and highlighted the systematic errors and biases that individuals regularly make when making decisions.
He was a strong advocate for the idea that human judgment and decision-making are affected by various psychological factors, rather than following the principles of rational choice theory. His experiments demonstrated how people frequently depend on mental shortcuts and rules of thumb, or heuristics, which often lead to predictable and systematic errors in reasoning.
Tversky's ideas greatly influenced multiple fields, including economics, psychology, and marketing. His research has had substantial impacts on fields such as finance, behavioral economics, and public policy. His collaboration with Kahneman earned them widespread recognition, including numerous awards and honors for their groundbreaking work.
Tversky's contributions continue to shape our understanding of human decision-making, and his work remains an integral part of the study of cognitive psychology and behavioral economics.
