Heukelom, Floris - Tinbergen Instituut - 2007
Kahneman and Tversky and their behavioral economics stand in a long tradition of applying mathematics to human behavior … making of modern economics. In the 1940s von Neumann and Morgenstern throw away Bernoulli and psychophysics, and redefine … the individual’s preferences, Friedman and Savage attempt to continue Bernoulli’s research. After this fails economics and …