In many ways, Nobel Laureate Daniel Kahneman’s work has created a brand new world of behavioral inquiry for applying human knowledge. Some of his simple yet powerful principles on intelligent thinking—such as the System 1 and System 2 thinking processes—provide a practical framework for understanding the mental structures that drive our choices. Investment professionals are constantly required to make decisions in the face of uncertainty. Kahneman’s contributions are of special significance to the financial marketplace. In this interview, Kahneman reviews his work and also provides insights on ways behavioral thinking could evolve.
The Take 15 Series is a series of short interviews with leading practitioners on timely topics focused on the investment profession.
About the Speaker(s)
Daniel Kahneman is a senior scholar, as well as Eugene Higgins Professor of Psychology Emeritus and the professor emeritus of public affairs, at the Woodrow Wilson School of Public and International Affairs at Princeton University. He was awarded the 2002 Nobel Prize in economic sciences for his body of research regarding how human judgment may take shortcuts that systematically depart from basic principles of probability. Previously, Professor Kahneman taught at the Hebrew University of Jerusalem, the University of British Columbia, and the University of California, Berkeley. His most recent book, Thinking, Fast and Slow, was named one of the ten best books of 2011 by the New York Times. Professor Kahneman holds a bachelor’s degree in psychology and mathematics from the Hebrew University of Jerusalem and a PhD in psychology from the University of California, Berkeley.