In 2002 he won the Nobel Prize for Economics, becoming in effect the first psychologist to obtain this recognition. He demonstrated how people often make decisions without following real logical criteria. Considered the father of behavioral finance, he leaves us one of the most influential figures of the century.
Daniel Kahneman has passed away at the age of 90. He was born on March 5, 1934 in Tel Aviv and was graduate in psychology at the Hebrew University of Jerusalem in 1954. After recently saying goodbye to Frans de Waal, here is another famous passing that will make us remember the month of March 2024 for a long time.
Immediately after graduation, he entered the Army where he was commissioned evaluate young recruits and pilot performances. He earned a PhD from the University of California at Berkeley in 1961, then returned to teach in the psychology department at Hebrew University. In 1993 he moved to the prestigious Princeton University in New Jersey, where he became a professor of psychology.
Kahneman era”the most influential living psychologist in the world. His work is truly monumental in the history of human thought“, said Steven Pinker, professor at Harvard University. Let us briefly review his incredible career.
In 1969 he met Amos Tversky, who became his great friend and collaborator for decades. Kahneman himself stated: “Probably I have shared more than half of the laughs in my life with Amos“.
Furthermore, with the so-called “prospect theory“, Kahneman e Tversky they completely revolutionized psychology first and then the economy.
In fact, they discovered that people often they make decisions that go against their interests. The main motivation is to be found in the influence of recently occurred events. The consequences? Quickly jumping to conclusions and being particularly reluctant to change your mind.
Fast forward to 2011, when Kahneman widened his popularity thanks to the bestseller (which we absolutely recommend you read it) “Slow and fast thoughts“, in which a vision of the human mind was presented as divided and guided by two systems: one fast and intuitive, the other slow and rational.
In the book he also added a series of tips to the analysis of decision-making mechanisms make better decisions over the course of life. Don’t worry, swear words and middle fingers are not among them!
Finally, we remember how in 2013 Kahneman received from the then President of the United States of America Barack Obama, the Presidential Medal of Freedomthat is to say America’s highest civilian honor. Not bad!
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