By ROBIN POWELL
Tributes have been paid by academics around the world for Daniel Kahneman, the Israeli-American psychologist and one of the pioneers of behavioural economics, who died recently at the age of 90.
Kahneman, a professor at Princeton University, won the Nobel Prize in Economic Sciences in 2002 — the first non-economist to do so.
That was a watershed moment because it officially recognised the fundamental importance of human behaviour and decision-making to investment outcomes.
So what can investors learn from Daniel Kahneman’s work? Here are six valuable lessons from his bestselling book, Thinking, Fast and Slow, published in 2011, in which he introduced the findings of his academic career to the broader public.
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