Nobel Prize in Economics (Daniel Kahneman)

Daniel Kahneman received the Nobel Prize in Economics in 2002 for his groundbreaking work in behavioral economics, which challenges traditional economic theory. He studied how psychological factors influence people's decision-making processes, demonstrating that humans often act irrationally and are affected by biases. His research, often in collaboration with Amos Tversky, revealed how emotions, perceptions, and cognitive shortcuts impact economic choices. This work has reshaped our understanding of economics, revealing that behavior is often unpredictable, leading to better policies and interventions in various fields, including finance and public policy.