Key Facts and Insights from The Undoing Project
- The book details the unique friendship between two brilliant psychologists, Amos Tversky and Daniel Kahneman, who were instrumental in establishing the field of behavioral economics.
- One of the central tenets of their work is the recognition that humans are not rational decision-makers and are influenced by a range of cognitive biases.
- The book introduces the concept of heuristics, which are mental shortcuts our brains use to make decisions more quickly, but often at the cost of accuracy.
- The ‘availability heuristic’ is explained, which is our tendency to make decisions based on...