Daniel Kahneman

AAA

DEFINITION of 'Daniel Kahneman'

A professor emeritus of psychology and public affairs at Princeton University and winner of the 2002 Nobel Prize in Economics, along with Vernon Smith, for his research on prospect theory, which deals with human judgment and decision making. Historically, economics has assumed that people act in their self-interest and make rational decisions. Kahneman's research combines psychology with economics to explore how people's behavior may depart from these assumptions.

INVESTOPEDIA EXPLAINS 'Daniel Kahneman'

Born in Tel Aviv in 1934, Kahneman spent his early childhood in France, where he and his family had to escape repeatedly from the Nazis until they moved to Palestine. Kahneman has also taught at the Hebrew University of Jerusalem, the University of British Columbia and the University of California at Berkeley.

RELATED TERMS
  1. George Bailey Effect

    A feeling of increased gratefulness for what one has upon considering ...
  2. Experimental Economics

    A branch of economics that focuses on individual behavior in ...
  3. Economist

    An expert who studies the relationship between a society's resources ...
  4. Laissez Faire

    An economic theory from the 18th century that is strongly opposed ...
  5. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
  6. Microeconomics

    The branch of economics that analyzes the market behavior of ...
Related Articles
  1. Adam Smith And
    Entrepreneurship

    Adam Smith And "The Wealth Of Nations" ...

  2. The Austrian School Of Economics
    Economics

    The Austrian School Of Economics

  3. Adam Smith: The Father Of Economics
    Economics

    Adam Smith: The Father Of Economics

  4. Leading Economic Indicators Predict ...
    Active Trading

    Leading Economic Indicators Predict ...

Hot Definitions
  1. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  2. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  3. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  4. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  5. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  6. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
Trading Center