Nobel Prize winner in economics Daniel Kahneman dies – Kommersant
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Israeli-American psychologist, one of the founders of behavioral economics and Nobel Prize winner in economics Daniel Kahneman died at the age of 91. This was reported with reference to his stepdaughter Deborah Treisman. The Washington Post. The circumstances and place of Mr. Kahneman’s death have not been specified.
In his research, Daniel Kahneman combined economics and cognitive science. In contrast to the concept of “Homo economicus”, which represents man as a rational being and striving for profit, he, together with psychologist Amos Tversky, published the work “Prospect Theory: Studies of the Decision-Making Process under Risk Conditions.” It examined and explained human behavior when making decisions related to risks.
Mr. Kahneman argued that people, influenced by recent events, tend to make irrational decisions. Also, according to his theory, after sharing feelings with each other, people begin to make the same mistakes. Making mistakes, which before Mr. Kahneman’s research was considered a consequence of emotions, was explained by the scientist by the very mechanism of people’s thinking.
In 2002, Daniel Kahneman was awarded the Nobel Prize in Economics for “integrating ideas from psychological research into economics.” He is also known for his 2011 book Thinking Slow…Fast, a New York Times bestseller. The book has been translated into dozens of languages, and its total circulation exceeds 2 million copies.
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