Well, it won a Nobel prize:
'In October, Princeton University psychologist Daniel Kahneman, PhD, was awarded the Nobel Memorial Prize in Economic Sciences for his groundbreaking work in applying psychological insights to economic theory, particularly in the areas of judgment and decision-making under uncertainty.
Kahneman is recognized for the pioneering research and theoretical work he conducted with colleague Amos Tversky, PhD, who died in 1996. While Tversky was acknowledged in the announcement, the Royal Swedish Academy of Sciences does not award prizes posthumously. "Certainly, we would have gotten this together," said Kahneman on the day of the announcement. "There is that shadow over the joy I feel."
The team's findings have countered some assumptions of traditional economic theory--that people make rational choices based on their self-interest--by showing that people frequently fail to fully analyze situations where they must make complex judgments. Instead, people often make decisions using rules of thumb rather than rational analysis, and they base those decisions on factors economists traditionally don't consider, such as fairness, past events and aversion to loss.
His work has inspired a new generation of researchers in economics and finance to enrich economic theory using insights from cognitive psychology into intrinsic human motivation," said the Royal Swedish Academy of Sciences' announcement. That's evidenced by the fact Kahneman and Tversky's seminal paper "Prospect theory: an analysis of decision under risk," has the highest citation count of all articles published in
Econometrica, arguably the most prestigious economic journal.'
Psychologist wins Nobel Prize
You should read his book:
https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555