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person1934–2024

Daniel Kahneman

Disciplines:
psychology
behavioral economics
princeton
science/nobel

Summary

Israeli-American psychologist — Nobel Prize in Economics 2002 — author of Thinking, Fast and Slow — co-creator with Amos Tversky of prospect theory — the most influential psychologist in the history of economics.

Core Contribution

Creates prospect theory and the heuristics-and-biases program — Kahneman and Tversky's research (that human probability judgment follows systematic biases, that losses hurt more than equivalent gains please, and that reference points determine value assessments) is the empirical foundation of behavioral economics.

Key Spikes & Highlights

  • Said in the last year of his life he was no longer confident in much of the priming research — a Nobel laureate publicly undermining a large part of his field's findings; his honesty about replication failures is the most unusual intellectual self-correction by any prize recipient
  • Friendship with Tversky: when Tversky got the MacArthur 'genius grant' and Kahneman did not, the asymmetry defined their later years; Kahneman has consistently insisted the Nobel belonged equally to Tversky

Notable Works & Achievements

Judgment under Uncertainty

Thinking, Fast and Slow

Noise

Historical Influences

Amos Tversky Ward Edwards

Intellectual Lineage

Tel Aviv Hebrew University UC Berkeley Princeton

Contemporaries & Peers

Amos Tversky Richard Thaler Robert Shiller

Minds Influenced

Behavioral economics Policy nudge movement

Intellectual Posterity

Prospect theory System 1 and System 2 Thinking, Fast and Slow Nobel Prize 2002Loss aversion

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