Pioneering Behavioral Economist Daniel Kahneman Dies at 90, Leaves Lasting Impact on Modern Economics

Israeli-American psychologist Daniel Kahneman, who was celebrated for applying psychological techniques to economics and was awarded the Nobel Prize in Economics in 2002, passed away on March 27 at the age of 90 in the United States. His stepdaughter Deborah Treisman confirmed the news but did not provide further details about the circumstances of his death.

Born in Tel Aviv in 1934, Kahneman graduated from the Hebrew University of Jerusalem with a bachelor’s degree in mathematics and psychology in 1954. He later worked as a psychologist in the Israeli Defense Forces, where he developed questionnaires to evaluate conscripts’ personalities. In 1958, he moved to the United States to pursue his PhD in psychology at the University of California, Berkeley while maintaining a strong connection with Israel and working at the Hebrew University.

Kahneman was recognized as one of the pioneers of behavioral economics and was honored with the Nobel Prize in Economics for his groundbreaking studies on judgment and decision-making under conditions of uncertainty, such as his collaboration with Vernon Smith. Despite being a psychologist, not an economist, Kahneman was awarded the Economics Prize in recognition of his innovative applications of psychological insights to economic theories. His work has had a significant impact on modern economics and continues to inspire researchers today.