Historical Figure
Daniel Kahneman
1934–2024
Israeli-American psychologist and economist (1934–2024)
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"Lex Fridman Podcast on Thinking Fast and Slow" — January 14, 2020
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Biography
Daniel Kahneman was an Israeli-American psychologist best known for his work on the psychology of judgment and decision-making as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences together with Vernon L. Smith. Kahneman's published empirical findings challenge the assumption of human rationality prevailing in modern economic theory. Kahneman became known as the "grandfather of behavioral economics."
Timeline
The story of Daniel Kahneman, told in moments.
Completed his Ph.D. in psychology at Berkeley, then returned to Israel. He taught at Hebrew University, where he met psychologist Amos Tversky. Their partnership lasted decades and rewrote economics.
Published prospect theory with Tversky. The paper demonstrated that people fear losses roughly twice as much as they value equivalent gains. It became the most cited paper in economics.
Won the Nobel Prize in Economics, the first psychologist to do so. Tversky had died six years earlier and couldn't share the award. Kahneman said he thought of it as theirs.
Published Thinking, Fast and Slow, which sold over two million copies. The book described two systems of thought: fast intuition and slow deliberation.
Died at 90. He had spent his career proving how badly people reason about risk, probability, and happiness.
In Their Own Words (20)
You should inform your gut and then trust it.
Discussion at Harvard - Dec 3, 2021https://news.harvard.edu/gazette/story/2021/12/daniel-kahneman-on-how-to-influence-others/https://news.harvard.edu/gazette/story/2021/12/daniel-kahneman-on-how-to-influence-others/, 2021
The first advice is to slow down, and not follow your first impulses.
Discussion at Harvard - Dec 3, 2021https://news.harvard.edu/gazette/story/2021/12/daniel-kahneman-on-how-to-influence-others/, 2021
No one ever made a decision because of a number. They need a story.
Michael Lewis. "The Undoing Project: A Friendship that Changed the World". Penguin, 2016 (ISBN 9780141983035)., 2016
The lesson is clear: estimates of causes of death are warped by media coverage. [...] The world in our heads is not a precise replica of reality; our expectations about the frequency of events are distorted by the prevalence and emotional intensity of the messages to which we are exposed.
Ch. 13, "Availability, emotion, and risk" p. 138., 2011
A recurrent theme of this book is that luck plays a large role in every story of success; it is almost always easy to identify a small change in the story that would have turned a remarkable achievement into a mediocre outcome.
Introduction, p. 9., 2011
Artifacts (15)
one of the most considerate, kind and humble artists in our industry.
ad of Sony Music UK and Ronson's UK label Columbia Records, hailed Ronson as "a true gentleman" and "one of the most considerate, kind and humble artists in our industry." He added, "the monumental...
HBR's 10 Must Reads on Negotiation (with bonus article "15 Rules for Negotiating a Job Offer" by Deepak Malhotra)
Learn to be a better negotiator--and achieve the outcomes you want. If you read nothing else on how to negotiate successfully, read these 10 articles. We've combed through hundreds of Harvard Business...
Judgement and Choice: Perspectives on the Work of Daniel Kahneman: A Special Issue of Thinking and Reasoning
The work of Daniel Kahneman and Amos Tversky has transformed the study of judgment and decision-making, and penetrated related disciplines such as economics, finance, marketing, law and medicine. In...
the monumental success of Uptown Funk is so thoroughly deserved and has establis...
n as "a true gentleman" and "one of the most considerate, kind and humble artists in our industry." He added, "the monumental success of Uptown Funk is so thoroughly deserved and has established...
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