“Brilliant. . . . Lewis has given us a spectacular account of two great men who faced up to uncertainty and the limits of human reason.” —William Easterly, Wall Street Journal
Forty years ago, Israeli psychologists Daniel Kahneman and Amos Tversky wrote a series of breathtakingly original papers that invented the field of behavioral economics. One of the greatest partnerships in the history of science, Kahneman and Tversky’s extraordinary friendship incited a revolution in Big Data studies, advanced evidence-based medicine, led to a new approach to government regulation, and made much of Michael Lewis’s own work possible. In The Undoing Project, Lewis shows how their Nobel Prize–winning theory of the mind altered our perception of reality.
Lewis (Flash Boys) deftly explores a timeless and fascinating subject human decision-making through the intellectually intimate collaboration of two influential psychologists, Daniel Kahneman and Amos Tversky. The pair met in 1969 and worked together until a few years before Tversky's death in 1996. As Lewis explains, they discovered that people do not make decisions as economists long believed as "intuitive statisticians" but rather in a chaotic fashion shot through with confirmation bias, fears of regret, sensitivity to change, the desire to avoid loss, and a propensity to mentally undo distressing outcomes. Through interviews with Tversky and Kahneman's friends, family, colleagues, rivals, and critics, as well as the psychologists' own recollections, letters, and published papers, Lewis seamlessly pieces together an informative and engagingly paced story. He begins with a step-by-step explanation of why both human minds and statistical models so often fail to produce the best choice. He then interweaves the psychologists' early lives, military service in defense of the young state of Israel, and professorial careers in both Israel and the United States with their questions, theories, and startling conclusions about how people actually make decisions. Lewis' latest effort is a joy to read, packed with "aha!" moments, telling and at times hilarious details, and elegant explanations of complex experiments and theories.
A life-changing book
It’s rare to find a book that resonates so powerfully and effectively to oneself - subconsciously enhancing our ability to see beyond the norm. Sparking creativity, insight, a needed understanding of purpose, thought, plans, ideas, that may well be lying subconsciously within ourselves. This book is powerful. It provided me direction to see deeper into relationships, to my work, to life, to my individual intentions and aspirations, that I know I am capable of, but never considered. The narrative, the story, Michael Lewis beautifully illustrates throughout this book, can create a new life beyond what we think we are capable of obtaining. Read it all the way through and hopefully you too, shall agree.
A story of friendship
For those interested in Amos and Danny’s work, read Thinking Fast, Thinking Slow. For those interested in a story of friendship, read this book. Amos and Danny are two different people whose minds work as one. The bravado of one earned him accolades the shyer one envied, and ultimately tore them apart. Death brought them back together.
As usual, Micheal Lewis writes engaging prose that seamlessly blends this story of friendship with the complex psychology that bound it together.