The thirty-five chapters in this book describe various judgmental heuristics and the biases they produce, not only in laboratory experiments but in important...

This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as (...) helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making. (shrink)

Review of T. S. Kuhn's The Essential Tension.

People are minded creatures; we have thoughts, feelings and emotions. More intriguingly, we grasp our own mental states, and conduct the business of ascribing them to ourselves and others without instruction in formal psychology. How do we do this? And what are the dimensions of our grasp of the mental realm? In this book, Alvin I. Goldman explores these questions with the tools of philosophy, developmental psychology, social psychology and cognitive neuroscience. He refines an approach called simulation theory, which starts (...) from the familiar idea that we understand others by putting ourselves in their mental shoes. Can this intuitive idea be rendered precise in a philosophically respectable manner, without allowing simulation to collapse into theorizing? Given a suitable definition, do empirical results support the notion that minds literally create surrogates of other peoples mental states in the process of mindreading? Goldman amasses a surprising array of evidence from psychology and neuroscience that supports this hypothesis. (shrink)

People are minded creatures; we have thoughts, feelings and emotions. More intriguingly, we grasp our own mental states, and conduct the business of ascribing them to ourselves and others without instruction in formal psychology. How do we do this? And what are the dimensions of our grasp of the mental realm? In this book, Alvin I. Goldman explores these questions with the tools of philosophy, developmental psychology, social psychology and cognitive neuroscience. He refines an approach called simulation theory, which starts (...) from the familiar idea that we understand others by putting ourselves in their mental shoes. Can this intuitive idea be rendered precise in a philosophically respectable manner, without allowing simulation to collapse into theorizing? Given a suitable definition, do empirical results support the notion that minds literally create surrogates of other peoples mental states in the process of mindreading? Goldman amasses a surprising array of evidence from psychology and neuroscience that supports this hypothesis. (shrink)