Decision Making Theorists Herbert Simon, Daniel Kahneman and Amos Tversky
In this video we will briefly introduce some key decision making theorists whose work will be reviewed in this course. In this video I am also going to be reviewing my favourite decision making theorist and associating them with a RAP STAR. I make the associations based upon 2 Factors.
1. The broader impact the scope of work of the decision making theorist and rap artist, and
2. Secondly, whether there is a connection between the rapper and the theoretical assumptions of the decision making expert.
Without a doubt one of the most influential decision making theorist for the field of business psychology is the polymath Herbert Simon. Herbert Simon is the founding father of artificial intelligence. He was a key contributor to psychology’s cognitive revolution, being one of the leaders in a movement that resulted in today’s mainstream cognitive assumptions become more widely accepted than behaviouralism assumptions. And he also won the Nobel prize in economics. Herbert Simon highlights that humans are not infinite calculators but possess cognitive limitations. Examples of key business psychology relevant concepts that he introduced include the terms bounded rationality and satisficing. The rapper that I associate with Herbert Simon is GrandMaster Flash. As far as impact goes both Herbert Simon and GrandMaster Flash produced output decades ago that would still be classified as high quality today.
Two of the great decision making researchers are co-collaborators Daniel Kahnemann and Amos Tversky. The joint work of Kahneman and Tversky revolutionised the field of judgement and decision making. Daniel Kahneman is a psychologist who is also recognised as one of the founding fathers of Behavioural Economics. He has also been awarded the Nobel prize in economics. His co-collaborator Amos Tversky also would have been awarded a noble prize if the prize could be be posthumously awarded,
I’m associating Daniel Kahneman with Ice Cube and Amos Tversky with Dr. Dre. Ice Cube and Dr. Dre were also co-collaborators. Most modern day decision making research is based upon the concepts of Kahneman and Tversky, while nearly all modern day rappers have been influenced by Ice Cube and Dr. Dre.