Daniel Kahneman was born in Tel Aviv, in what is now Israel, in 1934. He spent a lot of his childhood in Paris. Daniel 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. In 1961 he received his PhD in Psychology from the University of California, Berkeley.
He is most well known for his prospect theory, and in 2002, Vernon Smith and him, received the Nobel Prize in economics for "having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty.”
His work is important because his prospect theory has lots of applications because it's about why people make the decisions they do, so I do think it will apply to this class.
Kahneman is extremely important for us, as he has provided the underlying work for behavioral economics. His book, Thinking Fast and Slow is worth reading (after the semester is over). It will give you real insight into how human beings are different from how economists model them.
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