Nobel Prize economics laureate Daniel Kahneman dies at 90

Kahneman, a psychologist, was awarded the Nobel Prize in Economics in 2002 for his work with Prof. Amos Tversky, who had died in 1996.

Nobel Prize economics winner Prof. Daniel Kahneman has died aged 90.

Prof. Kahneman was born in Tel Aviv in 1934 and graduated in psychology and arithmetic from the Hebrew College of Jerusalem. He obtained his doctorate in psychology from the College of California, Berkeley. He taught on the Hebrew College from 1961 to 1978 the place he turned a professor. He was an emeritus professor at Princeton College.

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He was awarded the Nobel Prize in Economics in 2002 for his work with Prof. Amos Tversky, who had died in 1996. He turned the second psychologist to win the Nobel Prize for Economics for his work in choice making in instances of uncertainty. The Prospect Idea that he developed with Tversky challenged the rational mannequin in economics, by displaying that aversion of loss motivates us greater than love of achieve.

In Kahneman’s phrases, “The response to losses is persistently stronger than the response to equal positive factors.” In 2007, in an interview with “Cash” journal, Kahneman stated: “Economists suppose that persons are rational. They consider what individuals ought to do. Psychologists study what they actually do.”

Printed by Globes, Israel enterprise information – en.globes.co.il – on March 27, 2024.