Definition
Daniel Kahneman is an Israeli-American psychologist notable for his work on the psychology of judgment and decision-making, as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences. His empirical findings challenge the assumption of human rationality prevailing in modern economic theory.
Daniel Kahneman
What is ‘Daniel Kahneman’
A professor emeritus of psychology and public affairs at Princeton University and winner of the 2002 Nobel Prize in Economics, along with Vernon Smith, for his research on prospect theory, which deals with human judgment and decision making. Historically, economics has assumed that people act in their self-interest and make rational decisions. Kahneman’s research combines psychology with economics to explore how people’s behavior may depart from these assumptions.
Explaining ‘Daniel Kahneman’
Born in Tel Aviv in 1934, Kahneman spent his early childhood in France, where he and his family had to escape repeatedly from the Nazis until they moved to Palestine. Kahneman has also taught at the Hebrew University of Jerusalem, the University of British Columbia and the University of California at Berkeley.
Further Reading
- A psychological perspective on economics – www.aeaweb.org [PDF]
- The contributions of Daniel kahneman and Amos tversky – www.tandfonline.com [PDF]
- Maps of bounded rationality: Psychology for behavioral economics – pubs.aeaweb.org [PDF]
- Psychologist Daniel Kahneman Wins 2002 Nobel Prize in Economics [J] – en.cnki.com.cn [PDF]
- Anomalies: The endowment effect, loss aversion, and status quo bias – www.aeaweb.org [PDF]
- Behavioural economics perspectives: Implications for policy and financial literacy – papers.ssrn.com [PDF]
- Developments in the measurement of subjective well-being – www.aeaweb.org [PDF]
