Daniel Kahneman and the sunk-cost fallacy

Night Science

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Daniel Kahneman won the Nobel Prize for Economics – as a psychologist. His fundamental work in behavioral economics revealed our cognitive biases, such as loss aversion – the fact that we react much more strongly to losses than to gains. Danny’s popular science book “Thinking, Fast and Slow” is a highly influential bestseller; Itai and Martin consider it the operating manual for the human brain. In this conversation, Danny tells us how his creative process is driven by a lack of content with what has already been achieved. Other topics we talk about include the suspension of critical weapons, why anthropomorphisms are valuable, how to give the mind something to work on while asleep, and Danny’s innovation of the ‘adversarial collaboration’.

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