“We study natural stupidity instead of artificial intelligence.” That was how Amos Tversky described his collaboration with Daniel Kahneman, a partnership between two Israeli psychologists that produced some of the twentieth century’s most important findings about how the mind works. Through a series of ingenious experiments, Kahneman and Tversky discovered systematic biases in the way humans estimate probabilities and, in so doing, revolutionized the study and practice of economics, medicine, law, and public policy. If Tversky had not died in 1996, at the age of 59, he would most likely have shared the Nobel Prize in Economics awarded to Kahneman in 2002.
Michael Lewis has written an original and absorbing account of the 20-year partnership and the ideas it generated. The author of such bestsellers as Liar’s Poker and Moneyball, Lewis discovered Kahneman and Tversky belatedly. Unbeknownst to him, they had provided the scientific basis for the phenomenon he chronicled in