The book “The Undoing Project: A Friendship That Changed Our Minds,” by Michael Lewis, tells the story of the psychologists Amos Tversky, left, and Daniel Kahneman, right. Photograph Courtesy Barbara Tversky

We are more and more intrigued by this book, reviewed by two who knew the subject(s) better than most:

THE TWO FRIENDS WHO CHANGED HOW WE THINK ABOUT HOW WE THINK

By Cass Sunstein and Richard Thaler

In 2003, we reviewed “Moneyball,” Michael Lewis’s book about Billy Beane and the Oakland A’s. The book, we noted, had become a sensation, despite focussing on what would seem to be the least exciting aspect of professional sports: upper management. Beane was a failed Major League Baseball player who went into the personnel side of the business and, by applying superior “metrics,” had remarkable success with a financial underdog. We loved the book—and pointed out that, unbeknownst to the author, it was really about behavioral economics, the combination of economics and psychology in which we shared a common interest, and which we had explored together with respect to public policy and law. Continue reading →