Daniel L. McFadden

Daniel L. McFadden is an American economist, who was awarded the Nobel Prize for Economics in 2000 for his contribution to the development of theory and methods for analyzing discrete choices.

Personal, career and Academic profiles

Daniel L. McFadden was born on 29th July, 1937 in Raleigh, NC, USA.

Education

1957: Daniel L. McFadden completed his B.S. in Physics with Distinction from University of Minnesota

1962: McFadden was awarded PhD in Behavioral Science (Economics) from University of Minnesota

Academic engagements

1957-58: During this period, McFadden was engaged as the Instructor of Physics in University of Minnesota

1959-60: McFadden became the Research Assistant of Social Psychology in University of Minnesota

1961-62: He became the Instructor of Economics in University of Minnesota

1962-63: During this period, McFadden became the Assistant Professor of Economics in University of Pittsburgh

1963-66 : He was the Assistant Professor of Economics in University of California, Berkeley

1966-68: During this period of time McFadden engaged as the Associate Professor of Economics in University of California, Berkeley

1966-67: He was engaged as the Visiting Associate Professor of University of Chicago

1968-79: McFadden worked as the Professor of Economics in University of California, Berkeley

1977-78 : He was the Irving Fisher Research Professor in Yale University

1978-1991: In this period of time, McFadden was engaged as the Professor of Economics in Massachusetts Institute of Technology

1986-88: He served as the Director in Statistics Center of Massachusetts Institute of Technology

1990: He became the Sherman Fairchild Distinguished Scholar in California Institute of Technology

Some of the Honors and awards received by Daniel L. McFadden

1975: McFadden awarded the John Bates Clark Medal from American Economics Association
1977: He was elected to American Academy of Arts and Sciences
1979: He became the Fisher-Schultz Lecture of Econometrics Society
1981: McFadden awarded the Outstanding Teacher Award from MIT and elected to National Academy of Science
1986: McFadden was honored with Frisch Medal from Econometrics Society
2000: He was rewarded with Nemmers Prize in Economics from Northwestern University
2000: He was awarded the Nobel Prize in Economics
2003: McFadden was honored with Honorary Degree from University College, London
2006: He became the Member of American Philosophical Society

Theories propounded

People will remember Daniel L. McFadden for his contribution to the development of theory and methods for analyzing discrete choice. People will also remind Daniel L. McFadden for his groundbreaking work on micro-econometrics. His works can also be used in the analysis of individual behavior. As a whole, McFadden's work can be defined as the combination of economic theory, statistical methods, and empirical applications, which can be used as the resolution of social problems.

Some of the areas of research interests include savings behavior, housing mobility, demographic trends, sampling theory, production theory and consumer theory.

Major Works and publications

2003 (with P. Adams, M. Hurd, A. Merrill, and T. Ribeiro): "Healthy, Wealthy, and Wise? Tests for Direct Causal Paths between Health and Socioeconomic Status"

2003 (with L.Gan and M. Hurd): "Individual Subjective Survival Curves," NBER Working Paper

2004: "The New Science of Pleasure"

2005 (with A. Bemmaor, F. Caro, J. Dominitz, B. Jun, A. Lewbel, R. Matzkin, F. Molinari, N. Schwarz, R. Willis and J. Winter): "Statistical Analysis of Choice Experiments and Surveys"

2006(with J. Winter and F. Heiss): Who Failed to Enroll in Medicare Part D, and Why? Early Results Health Affairs

2006 (with J. Winter, R. Balza, F. Caro, F. Heiss, B. Jun and R. Matzkin): "Medicare prescription drug coverage: Consumer information and preferences"