| Behavioral economics is a new branch of economics. It was appeared in 20C 50's and it made a rappid development in 20C 70's. Daniel Kahneman is a famous behavioral economist. His theory including judgements and decisions on risk,the framing of decisions,loss aversion in choice,the endowment effect and status quo ect. Among these the most important theory is the prospect theory which developed in 1979 by Daniel Kahneman and his partner Amos Tversky .In this article, I introduce and describe nearly all important theories developed by Daniel Kahneman in order to make more and more people know about the behavioral economics. Throughout the article, Daniel Kahneman's source of ideas, logical development, the main significance of the theory and research have been given a detailed description and analysis, I expect that this article can attract more scholars to research in this area and promote its development in China. I belive that the ideas in this subject can help us explain and predict some economic puzzles and phenomenas. |
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