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 Sep 2008

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