Biography & History
The Undoing ProjectThe Undoing Project

The Undoing Project

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Michael Lewis

Amos Tversky and Daniel Kahneman revolutionized our understanding of decision-making through their development of prospect theory, which challenges the traditional notion that humans act purely rationally. They demonstrated that choices are deeply influenced by the framing of potential losses or gains, as illustrated by scenarios like the Asian Disease Problem, where identical outcomes elicit different responses depending on presentation. This highlights our innate aversion to loss and the emotional biases that shape decisions, particularly under unfavorable odds. Kahneman’s early life, marked by survival during the Holocaust and his work in the Israeli military, fostered a critical perspective on human judgment and biases, such as the halo effect. His collaboration with Tversky at Hebrew University further uncovered how heuristics and stereotypes skew decision-making, reshaping perceptions of rationality and the interplay of uncertainty and probability in human behavior.

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De quoi s'agit-il ?

Prospect theory, pioneered by Amos Tversky and Daniel Kahneman, delves into the complexities of human decision-making under risk, challenging the traditional notion of purely rational choices. It reveals how emotions and the framing of options—whether as potential losses or gains—profoundly shape our judgments, often leading to surprising biases. Drawing from real-world examples like the Asian Disease Problem, the theory highlights our heightened aversion to loss compared to the pursuit of equivalent gains. Through their groundbreaking work, Kahneman and Tversky revolutionized our understanding of the mental shortcuts and cognitive biases that influence decisions in uncertain situations.

Résumé du livre

Michael Lewis is an investigative journalist and author who has published fifteen nonfiction books, eight of which were national best sellers in the United States. In 2011, Lewis’s book Moneyball was turned into a major film starring Brad Pitt and Philip Seymour Hoffman.

Amos Tversky and Daniel Kahneman revolutionized our understanding of decision-making through their development of prospect theory, which challenges the traditional notion that humans act purely rationally. They demonstrated that choices are deeply influenced by the framing of potential losses or gains, as illustrated by scenarios like the Asian Disease Problem, where identical outcomes elicit different responses depending on presentation. This highlights our innate aversion to loss and the emotional biases that shape decisions, particularly under unfavorable odds. Kahneman’s early life, marked by survival during the Holocaust and his work in the Israeli military, fostered a critical perspective on human judgment and biases, such as the halo effect. His collaboration with Tversky at Hebrew University further uncovered how heuristics and stereotypes skew decision-making, reshaping perceptions of rationality and the interplay of uncertainty and probability in human behavior.

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Decoding Choices: How Bias Shapes Decisions

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Framing Choices: How We Weigh Risk and Reward

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