Daniel Kahneman and Amos Tversky have spent their whole lives developing an alternative to the "rational actor" model of human decision-making, the standard of traditional economic theory and the decision sciences. Their ideas were received rather well from the start, but in recent years, their alternative, which we can fairly call "behavioral economics" has virtually displaced traditional decision theory as an active research area.
People often think of the Kahneman-Tversky behaviorists as "bomb-throwers" in the sense that they appear to love to destroy traditional concepts of rationality rather that put constructive models in their place. This collection, which consists of 42 very high quality essays by the leading lights of the field, shows clearly that this is not the case. Prospect theory, loss aversion, framing effets, status quo effect, and the like are carefully modeled in this book. I came away quite impressed.
It is a shame that Amos Tversky never lived to see the light of day of this fine volume. It is certainly a vigorous vindication of his lifetime research agenda.