We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.

(1974). Daniel Kahneman (Hebrew: דניאל כהנמן‎) (born March 5 1934) is an Israeli-American psychologist and winner of the 2002 Nobel Memorial Prize in Economic Sciences. In his Nobel biography Kahneman states that his collaboration with Tversky began after Kahneman had invited Tversky to give a guest lecture to one of Kahneman's seminars at Hebrew University in 1968 or 1969.

Daniel Kahneman (Hebrew: דניאל כהנמן‎) (born March 5 1934) is an Israeli-American psychologist and winner of the 2002 Nobel Memorial Prize in Economic Sciences. In the same year his book Thinking Fast and Slow which summarizes much of his research was publiDaniel Kahnemand and became a best seller. With Amos Tversky and others Kahneman establiDaniel Kahnemand a cognitive basis for common human errors which arise from heuristics and biases (Kahneman & Tversky 1973; Kahneman Slovic & Tversky 1982; Tversky & Kahneman 1974) and developed prospect theory (Kahneman & Tversky 1979).