![]() This revelation also had profound consequences beyond psychology: Kahneman won the Nobel prize for economics in 2002, which Tversky would have shared had he not died in 1996. ![]() Kahneman and Tversky’s key insight was that people are not fundamentally rational, as had previously been thought, but often deeply irrational in understandable and predictable ways. ![]() They were an odd couple who became inseparable friends and intellectual partners, and over the course of the ’70s they shook psychology with their study of systematic cognitive biases. ![]() In The Undoing Project, Lewis turns his eye to the story of two Israeli psychologists, Daniel Kahneman and Amos Tversky. Lewis went into a career as a financial journalist, and after books such as Moneyball (2003), on data-driven baseball recruiting, and The Big Short (2010), on the US housing bubble, he has become one of the key pop-cultural explainers of and to the business world – a sort of more numerate Malcolm Gladwell. ![]() That bestseller set a vivid retelling of the young Lewis’ disillusionment with the excesses of Wall Street alongside a no less vivid history of the invention of mortgage bonds and the onset of the precarious financialisation of the US economy. Michael Lewis’ first book, Liar’s Poker (1989), provided an account of his time as a bond trader in the ’80s. ![]()
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