Daniel Kahneman, who understood that not all economic decision-making is strictly rational, has died at the age of 90. His research, which focused on the ways human psychology can warp rational thinking, was recognized with a Nobel Prize in 2002 and helped give rise to the burgeoning field known as "behavioral economics."
"Danny was a giant in the field," said Eldar Shafir, a professor at Princeton where a research center is named for Kahneman. "Many areas in the social sciences simply have not been the same since he arrived on the scene."
