WATCH: Israeli Nobel Laureate in Economics Daniel Kahneman Dies at 90

Israeli-American psychologist and winner of the 2002 Nobel Memorial Prize in Economic Sciences, Professor Daniel Kahneman, (Photo by Miriam Alster/FLASH90) Photo by Miriam Alster/FLASH90

Israeli Nobel Laureate in Economics Daniel Kahneman who developed The Prospect Theory died at 90.

The Prospect Theory states that people are more motivated in financial decisions by fear of loss than desire for gain.

Kahneman was only the second person with a Ph.D. in psychology to win the Nobel Prize in Economics.

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