Amos Tversky

Amos Tversky (1937–1996) was an Israeli cognitive psychologist whose research with Daniel Kahneman showed how people use mental shortcuts and systematic biases in judgment and decision-making.

Heuristic: A mental shortcut that simplifies judgment or problem-solving, often by using an accessible rule of thumb. Tversky and Kahneman studied how simple shortcuts can produce predictable errors.
Anchoring effect: A bias in which an initial value influences later estimates, even when that value is arbitrary. Tversky and Kahneman demonstrated that starting numbers pull numerical judgments.
Daniel Kahneman: An Israeli-American psychologist whose research on judgment and decision-making with Tversky reshaped behavioral science. Their partnership produced the best-known studies of heuristics, biases, and risky choice.
Judgment under Uncertainty: Heuristics and Biases: A 1974 Science article by Amos Tversky and Daniel Kahneman describing heuristics that shape judgments under uncertainty. This landmark paper introduced three influential heuristics and documented their systematic biases.
Behavioral economics: The study of economic decisions using psychological evidence about how people actually think and behave. Tversky’s findings helped establish psychological judgment as a foundation for economic models.
Availability heuristic: A judgment shortcut that estimates frequency or likelihood by how easily examples come to mind. Tversky and Kahneman showed that ease of recall can distort estimates of risk and frequency.
Conjunction fallacy: The error of judging a combined event more probable than one of its component events. The Linda problem showed representativeness overriding the basic rules of probability.
Baruch Fischhoff: An American psychologist known for research on judgment, risk perception, and hindsight bias. Fischhoff worked in the research tradition Tversky helped establish and studied hindsight bias.
Prospect Theory: An Analysis of Decision under Risk: A 1979 Econometrica article by Daniel Kahneman and Amos Tversky presenting prospect theory. This paper set out their alternative to expected utility as a model of risky choice.
Behavioral finance: The study of how psychological processes influence financial decisions and markets. His research on biases and risk informs explanations of investor behavior.

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