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☆ Daniel Kahneman, Who Plumbed the Psychology of Economics, Dies at 90
▼ + stars: | 2024-03-27 | by ( Robert D. Hershey Jr. | ) www.nytimes.com time to read: +1 min

Daniel Kahneman, who never took an economics course but who pioneered a psychologically based branch of that field that led to a Nobel in economic science in 2002, died on Wednesday. His death was confirmed by his partner, Barbara Tversky. Professor Kahneman, who was long associated with Princeton University and lived in Manhattan, employed his training as a psychologist to advance what came to be called behavioral economics. (Ms. Tversky had been married to Professor Tversky, who died in 1996. She and Professor Kahneman became partners several years ago.)

Persons: Daniel Kahneman, Barbara Tversky, Kahneman, Amos Tversky, Tversky Organizations: Princeton University Locations: Manhattan, Stanford

☆ James D. Robinson III, Former Chief of American Express, Dies at 88
▼ + stars: | 2024-03-18 | by ( Robert D. Hershey Jr. | ) www.nytimes.com time to read: +1 min

James D. Robinson III, who as chief executive of the American Express Company from 1977 to 1993 helped transform Wall Street into a more competitive financial marketplace, with a wide diversity of businesses housed under single roofs, died on Monday in Roslyn, N.Y., on Long Island. The death, at a hospital, was caused by respiratory failure from recurrent pneumonia, Walter Montgomery, a spokesman for the family, wrote in an announcement. A soft-spoken son of the Georgia gentry, Mr. Robinson followed a well-worn path to financial success, power and influence: from private school to the Ivy League and then on to the moneyed canyons of Lower Manhattan, with side trips to the corridors of Capitol Hill. In Washington, he was among Wall Street’s most influential advocates for deregulating the financial industry and widening its horizons. Some called him the unofficial secretary of state for corporate America.

Persons: James D, Robinson III, Walter Montgomery, Robinson, Wall Organizations: American Express Company, Ivy League, America Locations: Roslyn, N.Y, Long, Georgia, Lower Manhattan, Capitol, In Washington

Charles T. Munger, who quit a well-established law career to be Warren E. Buffett’s partner and maxim-spouting alter-ego as they transformed a foundering New England textile company into the spectacularly successful investment firm Berkshire Hathaway, died on Tuesday in Santa Barbara, Calif. His death, at a hospital, was announced by Berkshire Hathaway. Mr. Buffett has described him as the originator of Berkshire Hathaway’s investing approach. “The blueprint he gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices,” Mr. Buffett once wrote in an annual report. That investing strategy was a revelation for Mr. Buffett, who had made his name in the 1950s buying troubled companies at deep discounts.

Persons: Charles T, Munger, Warren, Berkshire Hathaway, Mr, Buffett, — Forbes, — Organizations: Berkshire Locations: England, Santa Barbara, Calif, Los Angeles, Berkshire

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