Daniel Kahneman, a psychologist who won a Nobel Prize in economics for his insights into how ingrained neurological biases influence decision making, has died.
FILE - Psychology professor Daniel Kahneman, left, a U.S. and Israeli citizen based at Princeton University, and his wife Anne Treisman, also a psychology professor at the university, have champagne following a news conference at the school in Princeton, N.J., to give his reaction to winning the Nobel prize in economics, Oct. 9, 2002. Kahneman died Wednesday, March 27, 2024, at the age of 90.
Kahneman’s partner, Barbara Tversky — the widow of Amos Tversky — confirmed his death to The Associated Press. Tversky, herself a Stanford University emerita professor of psychology, said the family is not disclosing the location or cause of death. The two worked together so closely that they flipped a coin to determine which of them would be the lead author on their first paper, and thereafter simply alternated that honor for decades.
Kahneman and Tversky began studying decision making in 1974 and quickly hit upon the central insight that people react far more intensely to losses than to equivalent gains. This is the now-common notion of “loss aversion,” which among other things helps explain why many people prefer status quo choices when making decisions. Combined with other findings, the pair developed a theory of risky choice they eventually named “prospect theory.
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