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Richard H Thaler - Misbehaving- The Making of Behavioral Economics (epub)

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PREFACE<br />

Before we get started, here are two stories about my friends and mentors,<br />

Amos Tversky and Daniel Kahneman. <strong>The</strong> stories provide some hints about<br />

what to expect in this book.<br />

Striving to please Amos<br />

Even for those <strong>of</strong> us who can’t remember where we last put our keys, life <strong>of</strong>fers<br />

indelible moments. Some are public events. If you are as old as I am, one may be<br />

the day John F. Kennedy was assassinated (freshman in college, playing pickup<br />

basketball in the college gym). For anyone old enough to be reading this book,<br />

September 11, 2001, is another (just getting up, listening to NPR, trying to make<br />

sense <strong>of</strong> it).<br />

Other events are personal: from weddings to a hole in one. For me one such<br />

event was a phone call from Danny Kahneman. Although we speak <strong>of</strong>ten, and<br />

there are hundreds <strong>of</strong> calls that have left no trace, for this one I know precisely<br />

where I was standing. It was early 1996 and Danny had called to share the news<br />

that his friend and collaborator Amos Tversky was ill with terminal cancer and<br />

had about six months to live. I was so discombobulated that I had to hand the<br />

phone to my wife while I recovered my composure. <strong>The</strong> news that any good<br />

friend is dying is shocking, but Amos Tversky was just not the sort <strong>of</strong> person<br />

who dies at age fifty-nine. Amos, whose papers and talks were precise and<br />

perfect, and on whose desk sat only a pad and pencil, lined up in parallel, did not<br />

just die.<br />

Amos kept the news quiet until he was no longer able to go into the <strong>of</strong>fice.<br />

Prior to that, only a small group knew, including two <strong>of</strong> my close friends. We<br />

were not allowed to share our knowledge with anyone except our spouses, so we<br />

took turns consoling one another for the five months that we kept this awful<br />

news to ourselves.<br />

Amos did not want his health status to be public because he did not want to

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