2022 video - Cognitum S2 Episode 4 // Revolutions of Finance
Human decision under risk and uncertainty have various biases and heuristics. Influential work by Daniel Kahneman.
Value and decision weights are assigned to gains and losses rather to the assets as in expected utility function theory.
Practical applications allow to understand the attractiveness of gambling and insurance.
outside view and biases
see also Practical Nobels in Economics
Ben Hunt - Common Knowledge Game
- illusions Gell-Mann Amnesia
NB: to be reviewed by an expert