Thinking fast and slow: the future of economic theory

Schleifer (Harvard) wrote an interesting short review of Kahneman's  book thinking fast and slow. He concludes with his view on the future of behavioural economics.


"Kahneman’s book, and his lifetime work with Tversky, had and will continue to have enormous impact on psychology, applied economics, and policy making. Theoretical work on Kahneman and Tversky’s ideas has generally modeled particular heuristics and choices under risk separately, without seeking common elements. A potentially large benefit of Kahneman’s book is to suggest a broader theme, namely that highly selective perception and memory shape what comes to mind before we make decisions and choices. Nearly all the phenomena the book talks about share this common thread. In this way, Kahneman points toward critical ingredients of a more general theory of intuitive thinking, still an elusive, but perhaps achievable, goal."


Here the link: review thinking fast and slow


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