Daniel Kahneman, a giant of modern science, made fundamental contributions bridging two fields: psychology and economics. The Swedish Academy of Sciences awarded him the Nobel Prize in 2002 “for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty.” His research with Amos Tversky and others focused on human judgment and decision-making under uncertainty. His groundbreaking work led to the development of prospect theory, a new branch of the decision sciences that explains deviations from traditional models. The 1979 paper with Amos Tversky “Prospect Theory: An Analysis of Decision under Risk,” Econometrica, remains the most-cited paper ever published in any economic journal. Daniel’s work has inspired many researchers and motivated many studies in our community. He was close to the Decision Analysis Society, and was awarded the Ramsey Medal for his outstanding contributions to Decision Analysis in 2006, together with Amos Tversky. 

During this special panel, Manel Baucells, David Budescu, L. Robin Keller, Don Kleinmuntz, and Peter Wakker will help us understand Daniel Kahneman’s early (1970s) impact on Decision Analysis work at the time, how it shaped the early work in our field, what was it about that work with Tversky that was so significant, and what is the message we can bring to the future generations of Decision Analysis Scientists. 

Panel moderators:
Yael Grushka-Cockayne
Emanuele Borgonovo