Daniel Kahneman
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Daniel Kahneman was an Israeli-American psychologist best known for his work on the psychology of judgment and decision-making as well as behavioral economics, for which he was awarded the 2002 Nobel
Kahneman in 2009
Amos Tversky
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Amos Nathan Tversky was an Israeli cognitive and mathematical psychologist and a key figure in the discovery of systematic human cognitive bias and handling of risk.
Daniel Kahneman
…the assumption of human rationality prevailing in modern economic theory. Kahneman became known as the "grandfather of behavioral economics." With Amos Tversky and others, Kahneman established a cognitive basis for common human errors that arise from heuristics and biases, and developed prospect theory. In…
The shape of the value (utility) function in prospect theory. The asymmetry of the function corresponds to loss aversion.