Princeton University psychology professor Daniel Kahneman was awarded the 2002 Nobel Prize in economic sciences at a ceremony Dec. 10 in Stockholm, Sweden.
Kahneman has been the Eugene Higgins Professor of Psychology and professor of public affairs in the Woodrow Wilson School of Public and International Affairs at Princeton University since 1993. He shares the award with Vernon Smith, a professor of economics and law at George Mason University.
In his congratulatory speech , Professor Lars-Göran Nilsson cited Kahneman for his contributions, along with the late Amos Tversky, to the field of economic theory. Nilsson, a member of the Royal Swedish Academy of Sciences, noted that Kahneman and Tversky "conducted a series of classical experiments to reveal how human judgment under uncertainty adheres to systematic rules of thumb or shortcuts."
Prior to receiving the award, Kahneman was congratulated for his important insights and pioneering research that are guiding a reformulation of economic and financial theory. Kahneman then received his medal and diploma from King Carl XVI Gustaf of Sweden.
A video of Kahneman's Nobel Prize lecture is available on the Nobel e-Museum Web site.
Earlier this month, Kahneman earned the 2003 University of Louisville Grawemeyer Award for Psychology . Tversky, who was a professor of psychology at Stanford University, shared that award posthumously. The $200,000 prize recognizes outstanding contributions to the field of psychology.
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Daniel Kahneman at the award ceremony