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Encyclopedia > Daniel Kahneman
Daniel Kahneman
Daniel Kahneman

Daniel Kahneman (born March 5, 1934 in Tel Aviv, in the then British Mandate of Palestine, now in Israel), is a key pioneer and theorist of behavioral finance, which integrates economics and cognitive science to explain seemingly irrational risk management behavior in human beings. Daniel Kahneman copied from Hebrew Wikipedia article Probable source: [1] Larger version: [2] Assumed license: Fair use This work is copyrighted. ... March 5 is the 64th day of the year in the Gregorian Calendar (65th in leap years). ... 1934 (MCMXXXIV) was a common year starting on Monday (link will take you to calendar). ... Tel-Aviv was founded on empty dunes north of the existing city of Jaffa. ... Map of the territory under the British Mandate of Palestine. ... Bank of Sweden Prize in Economic Sciences winner Daniel Kahneman, was an important figure in the development of behavioral finance and economics and continues to write extensively in the field. ... U.S. Economic Calendar Economics at the Open Directory Project Economics textbooks on Wikibooks The Economists Economics A-Z Institutions and organizations Bureau of Labor Statistics - from the American Labor Department Center for Economic and Policy Research (USA) National Bureau of Economic Research (USA) - Economics material from the organization... Rendering of human brain based on MRI data Cognitive science is usually defined as the scientific study either of mind or of intelligence (e. ... Risk is the potential harm that may arise from some present process or from some future event. ...


He is famous for collaboration with Amos Tversky and others in establishing a cognitive basis for common human errors using heuristics and in developing prospect theory. Amos Tversky (March 16, 1937 - June 2, 1996) was a pioneer of cognitive science, a longtime collaborator of Daniel Kahneman, and a key figure in the discovery of systematic human cognitive bias and handling of risk. ... Heuristic is the art and science of discovery and invention. ... The prospect theory was developed by Daniel Kahneman and Amos Tversky in 1979. ...


Kahneman spent his childhood years in Paris, France and moved to Palestine in 1946. He received his B.Sc. in mathematics and psychology from the Hebrew University in Jerusalem in 1954, after which he served in the Israeli Defense Forces, principally in its psychology department. In 1958 he came to the United States and earned his Ph.D. in Psychology from the University of California, Berkeley in 1961. The Eiffel Tower has become the symbol of Paris throughout the world. ... Map of the British Mandate of Palestine. ... Wikibooks Wikiversity has more about this subject: School of Mathematics Wikiquote has a collection of quotations related to: Mathematics Look up Mathematics in Wiktionary, the free dictionary Wikimedia Commons has media related to: Mathematics Inter. ... Psychology (ancient Greek: psyche = soul or mind, logos/-ology = study of) is an academic and applied field involving the study of mind and behavior. ... The Hebrew University of Jerusalem (האוניברסיטה העברית בירושלים) is one of Israels biggest and most important institutes of higher learning and research. ... Jerusalem and the Old City. ... 1954 (MCMLIV) was a common year starting on Friday of the Gregorian calendar. ... The Israel Defense Forces (IDF) (Hebrew: צבא ההגנה לישראל Tsva Ha-Haganah Le-Yisrael ([Army] Force [for] the Defense of Israel), often abbreviated צהל Tsahal, alternative English spelling Tzahal, is the name of Israels armed forces (army, air force and navy). ... University of California, Berkeley The University of California, Berkeley (also known as Cal, UCB, UC Berkeley, The University of California, California, or simply Berkeley) is a public coeducational university situated east of the San Francisco Bay in Berkeley, California, overlooking the Golden Gate. ... 1961 (MCMLXI) was a common year starting on Sunday (link will take you to calendar). ...


Currently a faculty member at Princeton University and a fellow at Hebrew University, he is the winner of the 2002 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for his work in prospect theory, despite being a research psychologist and not an economist. In fact, Kahneman claims to have never taken a single economics course [1] — he claims that what he knows of the subject he and Tversky learned from collaborators Richard Thaler and Jack Knetsch. Princeton University, located in Princeton, New Jersey, is the fourth-oldest institution of higher education in the United States. ... 2002 (MMII) is a common year starting on Tuesday of the Gregorian calendar. ... The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (in Swedish Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is a prize awarded each year for outstanding intellectual contributions in the field of economics. ... The prospect theory was developed by Daniel Kahneman and Amos Tversky in 1979. ... A psychologist is a social scientist who studies psychology, the study of the human mind, thought and human behaviour. ... U.S. Economic Calendar Economics at the Open Directory Project Economics textbooks on Wikibooks The Economists Economics A-Z Institutions and organizations Bureau of Labor Statistics - from the American Labor Department Center for Economic and Policy Research (USA) National Bureau of Economic Research (USA) - Economics material from the organization... Richard H. Thaler (b. ...


In expaining why he entered the field of psychology, Kahneman once wrote:

It must have been late 1941 or early 1942. Jews were required to wear the Star of David and to obey a 6 p.m. 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 that I had been told to fear more than others - the one worn by specially recruited SS soldiers. As I came closer to him, trying to walk fast, I noticed that he was looking at me intently. Then he beckoned me over, picked me up, and hugged me. I was terrified that he would 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 gave me some money. I went home more certain than ever that my mother was right: people were endlessly complicated and interesting. [2]

Notable contributions

Anchoring and adjustment is a psychological heuristic said to influence the way people estimate probabilities intuitively. ... The availability heuristic is a rule of thumb, or heuristic, which occurs when people estimate the probability of an outcome based on how easy that outcome is to imagine. ... The base rate fallacy, also called base rate neglect, is a logical fallacy that occurs when irrelevant information is used to make a probability judgment, especially when empirical statistics about the probability are available (called the base rate or prior probability). In some experiments, students were asked to estimate the... The conjunction fallacy is a logical fallacy that occurs when it is assumed that specific conditions are more probable than general ones. ... In economics, framing means the manner in which a rational choice problem has been presented. ... In prospect theory, loss aversion refers to the tendency for people to strongly prefer avoiding losses than acquiring gains. ... According to the peak-end rule, we judge our past experiences almost entirely on how they were at their peak (pleasant or unpleasant) and how they ended. ... The prospect theory was developed by Daniel Kahneman and Amos Tversky in 1979. ... The representative heuristic is a heuristic first identified by Amos Tversky and Daniel Kahneman. ... The simulation heuristic is a psychological heuristic, or simplified mental strategy, first theorized by Daniel Kahneman and Amos Tversky as a specialized adaptation of the availability heuristic to explain counterfactual thinking and regret. ... Status quo bias is cognitive bias for the status quo; in other words, people like things to stay relatively the same. ...

External links


  Results from FactBites:
 
Daniel Kahneman - Wikipedia, the free encyclopedia (472 words)
Daniel Kahneman (born 1934 in Tel Aviv, in the then British Mandate of Palestine, now in Israel), is a key pioneer and theorist of behavioral finance, which integrates economics and cognitive science to explain seemingly irrational risk management behavior in human beings.
Kahneman spent his childhood years in Paris, France and moved to Palestine in 1946.
Currently a faculty member at Princeton University and a fellow at Hebrew University, he is the winner of the 2002 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (colloquially known as the Nobel Prize in Economics) for his work in prospect theory, despite being a research psychologist and not an economist.
Daniel Kahneman - definition of Daniel Kahneman in Encyclopedia (446 words)
Daniel Kahneman (born 1934 in Tel Aviv, Israel) is a key pioneer and theorist of behavioral finance, which integrates economics and cognitive science to explain seemingly irrational risk management behavior in human beings.
Currently a faculty member at Princeton University and a fellow at Hebrew University, he is the winner of the 2002 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (colloquially known as the Nobel Prize in Economics), despite being a research psychologist and not an economist.
In fact, Kahneman claims to have never taken a single economics course [1] (http://webscript.princeton.edu/~psych/psychology/research/kahneman/case.php) — he claims that what he knows of the subject he and Tversky learned from collaborators Richard Thaler and Jack Knetsch.
  More results at FactBites »

 
 

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