Daniel Kahneman (1934–2024) was an Israeli-American psychologist renowned for his groundbreaking work in the psychology of judgment, decision-making, and behavioral economics. Born on March 5, 1934, in Tel Aviv, Mandatory Palestine, Kahneman spent his childhood in Paris, France.
During World War II, he and his family endured the hardships of Nazi occupation. After the war, they relocated to British Mandatory Palestine in 1948, just before the establishment of the state of Israel.
Kahneman pursued his higher education in psychology, earning his Ph.D. from the University of California in 1961. He held academic positions at institutions such as the Hebrew University in Jerusalem, the University of British Columbia, and the University of California, Berkeley. In 1993, he joined Princeton University as a professor of psychology and public affairs.
In collaboration with his colleague Amos Tversky, Kahneman challenged the prevailing notion of human rationality in economic theory. Their research unveiled systematic biases in human judgment and decision-making, leading to the development of prospect theory—a framework that describes how people make choices involving risk and uncertainty. This work laid the foundation for the field of behavioral economics.
For their pioneering contributions, Kahneman and Tversky were awarded the Nobel Memorial Prize in Economic Sciences in 2002.
Kahneman’s influence extended beyond academia, impacting areas such as law, medicine, and public policy. In 2011, he published “Thinking, Fast and Slow,” a best-selling book that distills much of his research, exploring the dual systems of thought that drive our decisions.
Daniel Kahneman passed away on March 27, 2024, at the age of 90. His legacy endures through his extensive body of work, which continues to shape our understanding of human behavior and decision-making processes.