The nobel prize in behavioral and experimental economics: A contextual and critical appraisal of the contributions of Daniel Kahneman and Vernon Smith

    Research output: Chapter in Book/Report/Conference proceedingChapter

    Abstract

    The Nobel Prize in Economics for 2002 was jointly awarded to Daniel Kahneman, a psychologist, and Vernon Smith, an economist. As Kahneman points out, his award is very much for collaborative work with the late Amos Tversky, also a psychologist. The Royal Swedish Academy of Sciences recognized the important insights and contributions from psychology that Kahneman brought to the development of economics. In giving the Nobel Prize to Smith, the Academy recognized the role of human laboratory experiments for testing economic theory and for evaluating the potential impact of public policy on economic efficiency.

    Original languageEnglish
    Title of host publicationLeading Contemporary Economists
    Subtitle of host publicationEconomics at the Cutting Edge
    PublisherRoutledge Taylor & Francis Group
    Chapter8
    Pages164-205
    Number of pages42
    ISBN (Print)0203893093, 9780203893098
    DOIs
    Publication statusPublished - 30 Sept 2008

    ASJC Scopus subject areas

    • Economics, Econometrics and Finance(all)
    • General Business,Management and Accounting

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