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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.

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.

Kahneman spent his childhood years in Paris,
France and moved to Palestine (region)|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. 

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
economics|economist. In fact, Kahneman claims to
have never taken a single economics course
http://webscript.princeton.edu/~psych/psychology/r
esearch/kahneman/case.php — he claims that
what he knows of the subject he and Tversky
learned from collaborators Richard Thaler and Jack
Knetsch.

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.
http://nobelprize.org/economics/laureates/2002/kah
neman-autobio.html

== Notable contributions ==

* anchoring and adjustment
* availability heuristic
* base rate fallacy
* conjunction fallacy
* framing
* loss aversion
* peak-end rule
* preference reversal
* prospect theory
* representativeness heuristic
* simulation heuristic
* status quo bias

==External links==
*
http://nobelprize.org/economics/laureates/2002/kah
neman-autobio.html Autobiography
*
http://www.princeton.edu/~psych/PsychSite/fac_kahn
eman.html Curriculum Vitae
*
http://webscript.princeton.edu/~psych/psychology/r
esearch/kahneman/index.php Home page at Princeton
*
http://www.nobel.se/economics/laureates/2002/kahne
man-lecture.html Nobel Prize lecture: Maps of
Bounded Rationality (real video)
*
http://alop.atspace.com/tui/kahneman-autobio.html
having integrated insights from psychological
research into economic science, especially
concerning human judgment and decision-making
under uncertainty