Daniel Kahneman

Daniel Kahneman ( / k ɑː a ə m ə n / ; Hebrew : דניאל כהנמן , born March 5, 1934) is an Israeli-American Psychologist notable for his work on the psychology of judgment and decision-making , as well as behavioral economics , for welke he was Awarded the 2002 Nobel Memorial Prize in Economic Sciences (shared with Vernon L. Smith ). His empirical findings challenge the assumption of human rationality prevailing in modern economic theory.

With Amos Tversky and others, Kahneman Agent a cognitive basis for common human errors therein ARISE from Tekstinterpretatie and biases (Kahneman & Tversky, 1973; Kahneman, Wilson & Tversky, 1982; Tversky & Kahneman, 1974), and developed prospect theory (Kahneman & Tversky, 1979).

In 2011, he was named by Foreign Policy magazine to zijn list of top global thinkers. ^[1] In the co year, his book Thinking, Fast and Slow , welke summarizes much of his research was published and became a bestseller. ^[2]

He is a professor emeritus of psychology and public affairs at Princeton University ‘s Woodrow Wilson School . Kahneman is a founding partner of TGG Group , a business and philanthropy consulting company. He is married to Royal Society Fellow Anne Treisman . ^[3]

In 2015 , The Economist listed im as the seventh Most Influential economist in the world. ^[4]

Biography

Daniel Kahneman was born in Tel Aviv , Mandatory Palestine in 1934, where his mother was visiting relatives. He spent his childhood years in Paris , France , where his parents had emigrated from Lithuania in the early 1920s. Kahneman and his family ulcers in Paris-when it was Occupied by Nazi Germany in 1940. His Father was picked up in the first major round-up of French Jews , but he was released after six weeks due to the intervention of his employer. The family was on the run for the remainder of the war, and it Survived intact EXCEPT for the death of Kahneman’s Father due to diabetes in 1944. Kahneman and his family-then moved to British Mandatory Palestine in 1948, just before the creation of the state or Israel (Kahneman, 2003).

Kahneman has written or his experience in Nazi-Occupied France , explanatory have in part why entered the field of psychology:

It must have leg late 1941 or early 1942. Jews ulcers required to wear the Star of David and to Obey a 6 pm curfew. I had gone to play with a Christian friend and had stayed too late. I turned my brown sweater inside out to walk the few blocks home. As I was walking down an empty street, I saw a German soldier approaching. He was wearing the black uniform dat I had leg Told to fear morethan others – the one Worn with Specially recruited SS soldiers. If I cameramen closer to im, Trying to walk fast, I Noticed dat he was looking at me intently. Then he beckoned me over, picked me up and hugged me. I was terrified dat he mention anything notice the star inside my sweater. He was speaking to me with great emotion, in German. When he put me down, he opened his wallet, Showed me a picture of a boy, and showing me some money. I went home more than ever certainement dat my mother was right: people ulcers endlessly complicated and interesting. (Kahneman, 2003, p. 417)

Kahneman RECEIVED his bachelor of science degree with a major in psychology and a minor in mathematics from the Hebrew University of Jerusalem in 1954. After earning his undergraduate degree, he served in the psychology department of the Israeli Defense Forces . One of his responsibilities was to evaluate Candidates for officer’s training school, and to developement tests and measures for this purpose. In 1958, he went to the United States to study for his PhD in Psychology from the University of California, Berkeley .

Academic career

Cognitive psychology

Kahneman Began his academic career as a Lecturer in psychology at the Hebrew University of Jerusalem in 1961. He was promoted to senior Lecturer in 1966. His early work focused on visual perception and attention. For example, his first publication in the prestigious journal Science was entitled “Pupil Diameter and Load on Memory” (Kahneman & Beatty, 1966). During this period, Kahneman was a visiting scientist at the University of Michigan (1965-66) and the Applied Psychology Research Unit in Cambridge (1968/1969, summers). He was a fellow at the Center for Cognitive Studies and a Lecturer in cognitive psychology at Harvard University in 1966/1967.

Judgment and decision-making

This period marks the beginning of Kahneman’s lengthy collaboration with Amos Tversky . Together, Kahneman and Tversky published a series of seminal articles in the general field of judgment and decision-making , culminating in the publication or hun prospect theory in 1979 (Kahneman & Tversky, 1979). Kahneman was ultimately Awarded the Nobel Memorial Prize in Economics in 2002 for his work on prospect theory. Following this, the pair teamed with Paul Wilson to edit a compilation entitled “Judgement Under Uncertainty: Tekstinterpretatie and biases” (1982) dat proved to be an important summary of hun work and or other recent advances therein had Influenced hun thinking.

In his Nobel biography, Kahneman states dat his collaboration with Tversky Began after Kahneman had Invited Tversky to give a guest lecture to one or Kahneman’s seminars at Hebrew University in 1968 or 1969. Their first Jointly written paper, “Belief in the Law of Small Numbers “was published in 1971 (Tversky & Kahneman, 1971). Way Down published seven articles in peer-reviewed journals in the years 1971-1979. Aside from “Prospect Theory,” the must important or synthesis articles were “Judgment Under Uncertainty: Tekstinterpretatie and biases” (Tversky & Kahneman, 1974) In this housing was published in the prestigious journal Science and introduced the notion of Anchoring .

Kahneman left Hebrew University in 1978 to take a position at the University of British Columbia .

Behavioral economics

Kahneman and Tversky ulcers zowel fellows at the Center for Advanced Study in the Behavioral Sciences at Stanford University in the academic year 1977-1978. A young economist named Richard Thaler was a visiting professor at the Stanford branch of the National Bureau of Economic Research prolongation dat co year. Volgens to Kahneman, “[Thaler and I] soon became friends, and port ever since had a considerable influence on eachother’s thinking” (Kahneman, 2003, p. 437). Building on prospect theory and Kahneman and Tversky’s body of work, Thaler published “Toward a Positive Theory of Consumer Choice” in 1980, a paper welke Kahneman has called “the founding text in behavioral economics ” (Kahneman, 2003, p. 438).

Kahneman and Tversky became Heavily involved in the development of this new approach to economic theory, and hun Involvement in this movement had the effect of Reducing the intensity and exclusivity hun earlier period, or joint collaboration. Way Down mention anything continuous to publish together Until the end of Tversky’s life, but the period-when Kahneman published almost exclusively with Tversky ended in 1983-when he published two papers with Anne Treisman , his wife since 1978.

Hedonic Psychology

In the 1990s, Kahneman’s research focus Began to gradually shift in emphasis towards the field or ” hedonic psychology “. This subfield is closely linked related to the positive psychology movement, welke was steadily gaining in popularity at the time. Volgens to Kahneman and colleagues,

Hedonic Psychology … is the study of what makes experiences and life pleasant or unpleasant. It is Concerned with feelings of pleasure and pain, of interest and boredom, of joy and sorrow, and of satisfaction and dissatisfaction. It is ook Concerned with the whole range of circumstances, from the biological to the societal, dat occasion suffering and enjoyment. ^[5]

It ‘s difficult to determine precisely als Kahneman’s research Began to focus on hedonics, hoewel de it LIKELY stemmed from his work on the economic notion of utility . After publishing multiple articles and chapters in all but one of the years stress the period 1979-1986 (for a total of 23 published works in 8 years), Kahneman published Exactly one chapter prolongation the years 1987-1989. After this hiatus, articles on utility and the psychology of utility Began ACM Press (eg, Kahneman & Snell, 1990; Kahneman & Thaler, 1991; Kahneman & Varey, 1991). In 1992, Varey and Kahneman introduced the Method of Evaluating moments and episodes as a way to capture “experiences extended across time.” While Kahneman continued to study decision-making (eg, Kahneman, 1992, 1994; Kahneman & Lovallo, 1993), hedonic psychology was the focus of an toenemende number of publications (eg, Fredrickson & Kahneman, 1993; Kahneman, Fredrickson, Schreiber & Redelemeier, 1993; Kahneman, Wake & Sarin, 1997; Redelmeier & Kahneman, 1996), culminating in a volume co-edited with Ed Diener and Norbert Schwarz , scholars or affect and well-being. ^[6]

With David Schkade, Kahneman developed the notion of the focusing illusion (Kahneman & Schkade, 1998; Kahneman, Krueger, Schkade, Schwarz & Stone, 2006) to explain in part the mistakes people make-when estimating the effects of différent scenarios on hun future happiness (also known as affective forecasting , welke has bone studied extensively by Daniel Gilbert ). The “illusion” occurs-when people consider the impact of one specific factor on hun overall happiness, they ‘impervious to greatly exaggerate the belang of that factor, while Overlooking the numerous other factors dat mention anything in musts cases harbor a grotere impact. A good example is provided by Kahneman and Schkade’s 1998 paper “Does living in California make people happy? A focusing illusion in judgments of life satisfaction”. In dat paper, students in the Midwest and in California Reported similar levels of life satisfaction, but the Midwesterners thought hun Californian peers mention anything be happier. The only distinguishing information the Midwestern students had als making judgments synthesis was the fact dat hun HYPOTHETICAL peers lived in California. THUS, ze “focused” on this Distinction, thereby overestimating the effect of the weather in California on zijn residents’ satisfaction with life.

Teaching

Kahneman is a senior scholar and faculty member emeritus at Princeton University ‘s Department of Psychology and Woodrow Wilson School of Public and International Affairs . He is ook a fellow at Hebrew University and a Gallup senior scientist. ^[7]

Personal

Kahneman is married to the award-winning cognitive Psychologist Anne Treisman . Way Down live part-time in Berkeley, California . ^[8]

Awards and recognition

• In 2001, he was elected a member of the National Academy of Sciences ^[9]
• In 2002, Kahneman RECEIVED the Nobel Memorial Prize in Economics, on Despite being a research Psychologist , for his work in prospect theory. Kahneman have states has never tasks a single economics course – dat dat everything he knows or have the subject and Tversky learned from hun collaborators Richard Thaler and Jack Knetsch.
• Kahneman, co-recipient with Tversky, earned the 2003 University of Louisville Dig Meyer Award for Psychology. ^[10]
• In 2007, he was Presented with the American Psychological Association ‘s Award for Outstanding Lifetime Contributions to Psychology . ^[11]
• On November 6, 2009, he was Awarded an honorary doctorate from the Department of Economics at Erasmus University in Rotterdam , Netherlands . In his acceptance speech Kahneman zegt, “when you live long enough, you see the Impossible Become Reality.” He was referring to the fact dat he mention anything never harbor verwachte to be honored as an economist-when he started his studies JSON what would Become Behavioral Economics. ^[12]
• In beide 2011 and 2012 have made the Bloomberg 50 Most Influential people in global finance . ^[13]
• On November 9, 2011, he was Awarded the Talcott Parsons Prize by the American Academy of Arts and Sciences . To see his lecture, click the link. ^[14]
• His book, Thinking, Fast and Slow was the winner of the 2011 Los Angeles Times Book Award for Current Interest. ^[15]
• In 2012 his book, Thinking, Fast and Slow , was Awarded the National Academy of Sciences Communication Award for the best book published in 2011. ^[16]
• In 2012 he was accepted as corresponding academician at the Spanish Royal Academy (Economic and Financial Sciences). ^[17]
• On August 8, 2013, President Barack Obama announced dat Daniel Kahneman mention anything be a recipient of the Presidential Medal of Freedom . ^[18]
• On June 1, 2015, he was Awarded an honorary doctorate from the Faculty of Arts at McGill University in Montreal . ^[19]

Notable contributions

Published works

The volgende is a partial list of publications.

Articles

• Kahneman, D .; Beatty, J. (1966). “Pupil diameter and load on memory.” Science . 154 (3756): 1583-1585. doi : 10.1126 / science.154.3756.1583 . PMID  5924930 .
• Tversky, A .; Kahneman, D. (1971). “Belief in the law of small numbers.” Psychological Bulletin . 76 (2): 105-110. doi : 10.1037 / h0031322 .
• Kahneman, D .; Tversky, A. (1972). “Subjective probability: A judgment or representativeness”. Cognitive Psychology . 3 (3): 430-454. doi : 10.1016 / 0010-0285 (72) 90016-3 .
• Kahneman, D. (1973). Attention and effort . Englewood Cliffs, NJ: Prentice-Hall.
• Kahneman, D .; Tversky, A. (1973). “On the psychology of prediction.” Psychological Review . 80 (4): 237-251. doi : 10.1037 / h0034747 .
• Tversky, A .; Kahneman, D. (1973). “Availability: A Heuristic for judging frequency and probability.” Cognitive Psychology . 5 (2): 207-232. doi : 10.1016 / 0010-0285 (73) 90033-9 .
• Tversky, A .; Kahneman, D. (1974). “Judgment under uncertainty: Tekstinterpretatie and biases” . Science . 185 (4157): 1124-1131. doi : 10.1126 / science.185.4157.1124 . PMID  17835457 .
• Kahneman, D .; Tversky, A. (1979). “Prospect theory: An analysis of Decisions under risk”. Econometrica . 47 (2): 263-291. doi : 10.2307 / 1914185 . JSTOR  1,914,185 .
• Tversky, A .; Kahneman, D. (1981). “The framing of Decisions and the psychology of choice” . Science . 211 (4481): 453-458. doi : 10.1126 / science.7455683 . PMID  7455683 .
• Kahneman, D .; Tversky, A. (1984). “Choices, values and frames”. American Psychologist . 39 (4): 341-350. doi : 10.1037 / 0003-066X.39.4.341 .
• Kahneman, D .; Miller, DT (1986). “Norm theory: Comparing reality to zijn alternatives”. Psychological Review . 93 (2): 136-153. doi : 10.1037 / 0033-295X.93.2.136 .
• Kahneman, D .; V & JL; Thaler, RH (1990). “Experimental tests of the endowment effect and the Coase Theorem”. Journal of Political Economy . 98 (6): 1325-1348. doi : 10.1086 / 261737 .
• Fredrickson, BL; Kahneman, D. (1993). “Duration neglect in retrospective evaluations or affective episodes”. Journal of Personality and Social Psychology . 65 (1): 45-55. doi : 10.1037 / 0022-3514.65.1.45 . PMID  8355141 .
• Kahneman, D .; Lovallo, D. (1993). “Timid choices and bold forecasts: A cognitive perspective on risk-taking.” Management Science . 39 : 17-31. doi : 10.1287 / mnsc.39.1.17 .
• Kahneman, D .; Tversky, A. (1996). “On the reality of cognitive illusions”. Psychological Review . 103 (3): 582-591. doi : 10.1037 / 0033-295X.103.3.582 . PMID  8759048 .
• Schkade, DA; Kahneman, D. (1998). “Does living in California make people happy? A focusing illusion in judgments of life satisfaction”. Psychological Science . 9 (5): 340-346. doi : 10.1111 / 1467-9280.00066 .
• Kahneman, D. (2003). “A perspective on judgment and choice: Mapping bounded rationality”. American Psychologist . 58 (9): 697-720. doi : 10.1037 / 0003-066X.58.9.697 . PMID  14584987 .
• Kahneman, D .; Krueger, A .; Schkade, D .; Schwarz, N .; Stone, A. (2006). “Would you be happier if you were Richer? A focusing illusion” (PDF) . Science . 312 (5782): 1908-10. doi : 10.1126 / science.1129688 . PMID  16809528 .
• Kahneman, D. (2003). Maps of bounded rationality: A perspective on INTUITIVE judgment and choice. In T. Frangsmyr (Ed.), Les Prix Nobel 2002 [Nobel Prizes in 2002]. Stockholm, Sweden: Almquist & Wiksell International. Note down therein chapter has two Sections: the first is an Autobiography (with a Eulogy for Amos Tversky), and the second is a transcript of his Nobel lecture, welke is what the title refers to. The autobiographical portion-leg has republished as: Kahneman, D. (2007). Daniel Kahneman. In G. Lindzey & WM Runyan (Eds.), A History of Psychology in Autobiography, Volume IX (pp. 155-197). Washington, DC: American Psychological Association. It is ook on the Nobel Prize website .

Books

• Kahneman, D. (1973) Attention and effort . Englewood Cliffs, NJ: Prentice-Hall .
• Kahneman, D., Wilson, P. , & Tversky, A. (1982) Judgment Under Uncertainty: Tekstinterpretatie and biases . New York: Cambridge University Press.
• Kahneman, D., Diener, E., & Schwarz, N. (Eds.). (1999). Well-being: The foundations of hedonic psychology . New York: Russell Sage Foundation.
• Kahneman, D., Tversky, A. (Eds.) (2000) Choices, values and frames . New York: Cambridge University Press.
• Kahneman, D. (2011) Thinking, Fast and Slow , Farrar, Straus and Giroux , ISBN 978-0374275631 . (Reviewed by Freeman Dyson in New York Review of Books , 22 December 2011, pp. 40-44.)

Interviews

• “Can We Trust Our Intuitions?” in Alex Voorhoeve Conversations on Ethics . Oxford University Press, 2009. ISBN 978-0-19-921537-9 (Discusses Kahneman’s views about the reliability or moral intuitions [case judgments] and the relevance of his work for the search for “reflective equilibrium” in moral philosophy.)

Radio interviews

• All in the Mind, ABC, Australia (2003)
• All in the Mind, BBC, Great Britain (2011)

Online interviews

• Thinking about Thinking – An Interview with Daniel Kahneman (2011) [1]

Television interviews

• How You Really Make Decisions – Horizon (BBC TV series) – Series 2013-2014 No. 9

Bibliography

References