Daniel Kahneman and Amos Tversky publish The Prospect Theory, in which they identify, and verify through scientific experiments, the presence of two systems in the human intellect: System 1 (automatic and fast, involuntary), and System 2 (capable of complex reasoning, but requiring time and concentration). System 2 can also, within certain limits, program System 1. System 1 continually generates suggestions for System 2, which transforms them into beliefs and actions. System 2 is therefore often polarized, biased, and prone to misunderstandings. It tends to answer questions simpler than the one it’s being asked (it’s lazy), and it has little knowledge of statistics and logic. For this reason, Kahneman would win the Nobel Prize in Economics in 2002 (Tversky had died a few years earlier), even though he admitted to knowing absolutely nothing about economics and never having taken any courses on the subject.
