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Another interesting read ruined by the eye-catching (yet erroneous) headline. The work of Kahneman and Tversky is quite fascinating. If interested in reading more about it, I would suggest The Undoing Project by Michael Lewis for starters.

Back to the article....the point of K&T was that prior economic theory was predicated on humans being perfectly rational actors. Their research pointed out that we are anything but.

Right. I read "The Undoing Project" and "Thinking, Fast and Slow" by Kahneman. But what this article is saying is that straight rationality can also be misleading in some cases and that we need our emotional responses as well as our rationality, which I agree with.

@tnorman1236 The part of the article that resonated with me is the summary at the end:

The solution to the problems that Kahneman and Tversky identified isn’t to simply accept that parts of our mind are inherently biased and that we have to avoid interacting with them at all costs. It’s to dig a little deeper and to carefully work with the foundation of these biases in a way that captures their strengths without indulging their weaknesses.

I believe that our emotions can be understood rationally as well. After all they are the result of chemical reactions and physical processes in our bodies. As a result, we might not have a good understanding of them now, but we might with more study.

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I agree. Emotions cannot be wrong. They are our truth.

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