Nobel Prize Winner Daniel Kahneman, Israeli-American Psychologist, Passes Away in the USA

Nobel laureate Daniel Kahneman: Pioneering Behavioral Economics and Leaving a Lasting Legacy

In 2002, Israeli-American psychologist Daniel Kahneman was awarded the Nobel Prize in Economics for his innovative application of psychological methods to the field of economics. Born in Tel Aviv in 1934 and raised with a bachelor’s degree in mathematics and psychology from the Hebrew University of Jerusalem in 1954, Kahneman later worked in the psychological unit of the Israeli Defense Forces, developing questionnaires to assess conscripts’ personalities.

In 1958, he moved to the United States to pursue a PhD in psychology at the University of California, Berkeley while maintaining connections with Israel by working at the Hebrew University. Kahneman was one of the pioneers of behavioral economics and instrumental in applying psychological principles to economic decision-making. His groundbreaking studies on judgment and decision-making under uncertainty earned him the Nobel Prize in Economics, making him the first psychologist to receive this prestigious award. Despite conducting his research as a psychologist rather than an economist, Kahneman’s work had a profound impact on the field of economics.

Kahneman passed away on March 27 at the age of 90, leaving behind a legacy that continues to inspire researchers today. His contributions to behavioral economics have paved the way for future generations of researchers who seek to understand how psychological factors influence economic decisions. As an influential figure in both psychology and economics, Kahneman’s death marks a significant loss for both fields.

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