Kahneman, Daniel

Daniel Kahneman

Nobel Laureate in Economic Sciences 2002

Professor of Psychology and of Public Affairs – Princeton University, USA
Fellow, Center for Rationality, Hebrew University, Jerusalem, Israel

Co-reason for the prize:

for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty

Main Topics:

behavioral finance, rational choice; risk attitude and decision making; investor psychology

Professional Profile:

Daniel Kahneman, after teaching at the Hebrew University and the University of British Columbia in Vancouver, Canada, became a Professor of Psychology at Berkeley.

In 1993 he received an appointment as Eugene Higgins Professor of Psychology and as a Professor of Public Affairs at Princeton University in New Jersey.

In collaboration with Amos Tversky he initiated the study of judgmental heuristics and developed prospect theory and a treatment of framing effects in decision making.

He has also studied fairness in economic decision making, the valuation of public goods and the psychology of juries. His main current interest is in hedonic psychology and the development of measures of well-being that could serve as indicators of human welfare for purposes of policy evaluation.

Daniel Kahneman has written one book, edited three others and published over 120 articles. He is the recipient of several honours including, in 2002, the Nobel Prize for economical sciences (shared with Vernon L. Smith) “for integrating insights from psychology into economic research”, the 2003 University of Louisville Grawemeyer Award for Psychology, the Distinguished Scientific Contribution Award of the American Psychological Association, the Hilgard Award for Career Contribution to General Psychology and honorary degrees from the University of Pennsylvania, the University of Trento, the New School for Social Research and the Ben-Gurion University.

He is a member of the National Academy of Sciences, the American Academy of Arts and Sciences and the Econometric Society.


  • B.A., The Hebrew University, Jerusalem, 1954
  • Ph.D., University of California, 1961

Selected Works:

  • D. Kahneman, Delusions of Success – How Optimism Undermines Executives’ Decision, con D. Lovallo, Harvard Business Review, 81:7, 2003
  • D. Kahneman, Heuristics and Biases: The Psychology of Intuitive Judgment, con T. Gilovich e D. Griffin, Cambridge University Press, New York, 2002
  • D. Kahneman, Choices, Values and Frames, con A. Tversky, Cambrige University Press e Russell Sage Foundation, New York, 2000
  • D. Kahneman, Well-Being: Foundations of Hedonic Psychology, con E. Diener e N. Schwarz, Russell Sage Foundation Press, New York, 1999
  • D. Kahneman, Contingent Valuation and the Value of Public Goods: Reply, con J. Knetsch, Journal of Environmental Economics and Management 22, 1992, 90-94

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