[Paleopsych] Daniel Kahneman: people don't vote their self interest

Steve Hovland shovland at mindspring.com
Mon Nov 22 23:10:51 UTC 2004

The Prospect Theory, advanced by Dr. Kahneman and his colleague the late 
Dr. Amos Tversky, challenges mainstream economists' assumptions that people 
are rational and motivated by self-interest, and that they make rational 
financial decisions. It suggests that more psychological motives, including 
emotions and biases, determine people's economical behavior and that when 
making decisions people frequently take short-cuts, utilize cognitive 
heuristics, and make flawed but human choices.

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