Biography of daniel kahneman , prospect theory, uses fields, contributions.

1. ASHIK REZA
ID NO :11507005
Department of Marketing
Comilla university

2. NUMBER CONTAINS DESCRIPTION
1 Name Daniel Kahneman
2 Nobel Prize In Economics (2002)
3 Born March 5, 1934 (age 83)
4 Residence United States
5
Known for
Cognitive biases , Behavioral economics
Prospect theory , Loss aversion
6
Awards
APA Lifetime Achievement Award (2007)
APS Distinguished Scientific Contribution Award (1982)
Nobel Memorial Prize in Economic Sciences (2002)
7 Fields Pychology, Economics
8
Books
thinking-fast-and-slow.
Happiness by Design: Change What You Do, Not
How You Choices, Values, and Frames Think.
Judgment Under Uncertainty: Heuristics and Biases.
Heuristics and Biases: The Psychology of Intuitive
Judgment
9 Website princeton.edu/~kahneman/

3. MAJOR CONCEPT OF DANIEL KAHNEMAN
“FOR HAVING INTEGRATED INSIGHTS FROM PSYCHOLOGICAL RESEARCH INTO ECONOMIC SCIENCE,
ESPECIALLY CONCERNING HUMAN JUDGMENT AND DECISION-MAKING UNDER UNCERTAINTY”
“PROSPECT THEORY”

4. Prospect Theory is a behavioral economic theory that describes the way people chose between probabilistic
alternatives that involve risk, where the probabilities of outcomes are known.
The “Prospect Theory: An Analysis of Decision under Risk” has been called a “seminal paper in
behavioral economics.”

5. Uses field
To inform the judgment and decision-making under uncertainty.
calls their entry into behavioral economics "completely accident"--but after the Econometrica ,
found in a circle of innovative economists.
To cognitive psychology and social psychology.
instinctive ones and any attempt to make us act rationally must take that inbuilt bias into account or
fail.

6. Contributions
 Daniel Kahneman work has inspired a new generation of researchers in economics and finance .

to enrich economic theory using insights from cognitive psychology .

work spurred a great deal of work by economists on systematic departures from rational behavior.

To help share market by using the prospect theory.
 The theory now forms the basis for much of the applied research in economics.

7. THANK YOU