Audio and Video Lectures in Advanced Microeconomics
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Maps of bounded rationality : a perspective on intuitive judgment and choice
Maps of bounded rationality : a perspective on intuitive judgement and choice is Daniel Kahneman's 2002 Nobel Prize lecture, reviewing psychological and behavioural perspectives on economic choice following from his pioneering work with Amos Tversky. Includes a summary of their 'prospect theory', an alternative to rational choice theory that is consistent with their empirically discovered judgement biases, and a review of evidence for the main heuristics and their associated biases. Available as text or as a video of the lecture.
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