June 16, 2024

Pioneering Behavioral Economist and Nobel Laureate Daniel Kahneman Dies at 90

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Nobel Prize-winning Israeli-American psychologist Daniel Kahneman dies in the United States

Israeli-American psychologist Daniel Kahneman, renowned for his work in behavioral economics and recipient of the Nobel Prize in Economics in 2002, passed away on March 27 at the age of 90 in the United States. His stepdaughter Deborah Treisman confirmed the news but did not provide further details about the circumstances of his death.

Kahneman was born in Tel Aviv in 1934 and graduated from the Hebrew University of Jerusalem with a bachelor’s degree in mathematics and psychology in 1954. He later went on to work in the Israeli Defense Forces’ psychological unit, where he developed questionnaires to evaluate conscripts’ personalities. In 1958, he moved to the United States to pursue his PhD in psychology at the University of California, Berkeley while also maintaining a strong connection with Israel and working at the Hebrew University.

Kahneman’s innovative approach to psychology and economics earned him recognition as one of the pioneers of behavioral economics. He was awarded the Nobel Prize in Economics for his groundbreaking studies on judgment and decision-making under conditions of uncertainty, such as his collaboration with Vernon Smith. Despite being a psychologist rather than an economist, Kahneman was honored with this prestigious award for his innovative applications of psychological insights to economic theories. His legacy will continue to inspire researchers and practitioners alike as they strive to better understand human behavior under uncertain conditions.

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