Keynote: The Psychology of Intuitive Judgment & Choices
9:10 - 9:55 | Thursday, May 23
After a near 10 year absence from the lecture circuit, Nobel Laureate Daniel Kahneman has returned to discuss some of the most critical issues of our time. As documented in his best-selling book Thinking, Fast and Slow, as well as Michael Lewis’s best-seller The Undoing Project, much of Kahneman’s life and work has been devoted to behavioral economics—the science of human decision making. In the late 1970s and early 80s, Kahneman and his research partner Amos Tversky published two landmark papers on the subject, entitled Prospect Theory: An Analysis of Decision Under Risk and Judgment Under Uncertainty: Heuristics and Biases.
In this keynote presentation, Daniel will talk through the key findings that have laid the foundation for modern behavioral economics, flying in the face of long-held assumptions about the supposed role of human rationality in decision making. He will touch on concepts such as framing, the availability and representativeness heuristics, cognitive biases, and loss aversion into the public consciousness, particularly as they relate to business, economics, and military strategy.
The presentation will also feature a guided discussion where Daniel will address topics like:
- Why do we need models?
- Where are companies failing to use models appropriately, and why?
- What are some practical steps data science organizations should take to be successful applying models to their business?
Nobel Prize Winner, Psychologist, and Author, Thinking, Fast and Slow
Daniel is an Israeli-American psychologist notable for his work in behavioral economics – the psychology of judgment and decision-making – for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences. His empirical findings challenged assumptions about the nature of human rationality prevailing in modern economic theory.
Alongside Amos Tversky and others, Kahneman established a cognitive basis for the common human errors that arise due to heuristics and biases, and developed prospect theory.
He is a professor emeritus of psychology and public affairs at Princeton University’s Woodrow Wilson School. Kahneman is a founding member of TGG Group, a business and philanthropy consulting company. He is married to Royal Society Fellow Anne Treisman.
In 2001, he was elected a member of the National Academy of Sciences. In both 2011 and 2012, he made Bloomberg’s list of The 50 Most Influential People in Global Finance.
In 2011, he was included by Foreign Policy magazine in its list of top global thinkers. The same year, his book, Thinking, Fast and Slow, which summarizes much of his research, was published and became a best-seller. It would go on to win the National Academy of Sciences Communication Award for Best Book the following year.
In 2013, President Barack Obama awarded Daniel Kahneman the Presidential Medal of Freedom.
In 2015, The Economist listed him as the seventh most influential economist in the world.