The Israeli-American Nobel Prize winner in economics Daniel Kahneman, who introduced psychological theories into economic sciences, has died at the age of 90, Princeton University, where he continued to teach, confirmed on Wednesday March 27.
A psychologist by training, Daniel Kahneman, author of the bestselling book System 1 / System 2: The Two Speeds of Thought, integrated research findings in his original branch into economic analysis, considerably influencing the discipline.
He was rewarded for his work with the Nobel Prize in Economics in 2002.
A new generation of researchers inspired by his work
Taking into account the fact that man was not the rational and selfish animal that we believed, in his decision-making, Mr. Kahneman showed how the decisions of individuals could systematically deviate from the predictions of the traditional economic theory, introducing an “irrationality variable” into the calculations.
His work has inspired a new generation of researchers in economics and finance.
“Many areas of social science are simply not the same because of him. He will be greatly missed,” said colleague Eldar Shafir, professor of psychology at Princeton University, in a press release.
