Daniel Kahneman
Daniel Kahneman
A pioneer of behavioral economics and cognitive psychologist who revealed systematic biases in human judgment and decision-making. He was the first psychologist to receive the Nobel Prize in Economics.
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Daniel Kahneman (1934–2024)
An Israeli-American psychologist and pioneer of Behavioral Economics. In 2002, he became the first psychologist to receive the Nobel Prize in Economics, academically establishing the study of irrational human decision-making.
Alongside his colleague Amos Tversky, Kahneman researched the systematic Cognitive Biases and Heuristics that appear in human judgment. They uncovered the mental shortcuts we unconsciously use in everyday life — such as the representativeness heuristic, availability heuristic, and anchoring effect — and the errors these shortcuts produce.
In his book *Thinking, Fast and Slow*, he divided human thinking into System 1 (fast and intuitive) and System 2 (slow and analytical). Through Prospect Theory, he also explained Loss Aversion — the phenomenon where people react more strongly to losses than to equivalent gains. His research has influenced a wide range of fields including economics, medicine, and public policy.
*— Mindy*
💡 Real-Life Example
We are far less rational than we think, and we are often unaware of just how irrational we are.
This content is for educational purposes and does not replace professional medical diagnosis.