Fast Minds, Slow Wisdom: Why Intelligent People Still Make Irrational Decisions

Author(s)	Prof. Dr. Vidya Hattangadi
Country	India
Abstract	The joint work of Daniel Kahneman and Amos Tversky in the 1970s and 1980s transformed statistical thinking from a niche academic interest into a major interdisciplinary research focus. Their pioneering research revived the concept of heuristics—mental shortcuts used by the human brain to simplify complex decision-making—and played a pivotal role in bringing psychology into economics and other social sciences. Their work culminated in what became known as the heuristics-and-biases program, which fundamentally reshaped our understanding of human judgment and rationality.
Keywords	Thinking fast and slow, Daniel Kahneman, Amos Tversky, Heuristics, System1, System 2, Human Fallibility, Emotions, Rationality, Intelligence, Cognitive Biases, Indecision, Cognitive Diversity.
Field	Sociology > Administration / Law / Management
Published In	Volume 7, Issue 2, March-April 2026
Published On	2026-04-24
DOI	https://doi.org/10.63363/aijfr.2026.v07i02.5011

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